Earnings Data
Report Date
Aug 20, 2026Before Open (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
0.45Last Year’s EPS
0.49Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixed picture. Material operational setbacks in Q2 (crusher failure at KCGM, Jundee and Thunderbox disruptions, grade shortfalls) caused a downgrade to FY'26 production and drove higher near-term costs and incremental FY'26 capex to keep major projects on schedule. Offsetting these issues are a strong balance sheet (cash & bullion $1.18B, net cash $293M), robust H1 cash earnings and operating cash flow, record mining performance at KCGM, improvement in processing recovery (86%, +5ppt vs expectation) and clear project progress (KCGM mill expansion on track for early FY'27). Management emphasized the one-off nature of many issues and confidence in a stronger second half. Overall, positives (financial strength, project pipeline, recovery improvements and inventory of high-grade ore ready for processing) are balanced by significant operational execution risks and near-term upgrades to capex and schedules.Company Guidance
Balanced FY'26 Revised Guidance
Northern Star revised FY'26 gold sold guidance to 1.6 million–1.7 million ounces and all-in sustaining cost guidance narrowed to $2,600–$2,800/oz, with further detail provided by production center. Guidance incorporates known one-off events and the company expects a stronger second half.
Strong Balance Sheet and Cash Generation
Cash and bullion of $1.18 billion and a net cash position of $293 million at 31 December. Estimated H1 cash earnings $1.06 billion–$1.11 billion and operating cash flow of $738 million. Dividend policy remains 20%–30% of cash earnings.
Record and Improved Mining Performance at KCGM
KCGM mined a record 207,000 ounces in the quarter (new site record under Northern Star ownership). Open-pit material movement was at the top of the annual guidance range (22 million for the quarter / 45 million for H1 as reported). Mill crushing recovered strongly post-5 January: crushed over 700,000 tonnes in 20 days versus December's 600,000 tonnes (≈16.7% higher tonnage for the reported comparison).
Processing and Recovery Strength
Processing availability averaged 92% year-to-date and recovery for the quarter was 86%, which was 5 percentage points higher than expected, supporting improved metal conversion as the year progresses.
Underground Development and Ore Inventory
KCGM underground developed 8.7 km and mined 819,000 tonnes of ore in the quarter. For H1, underground ore mined was 1.55 million tonnes (annualized exceeding the 3 Mtpa target). KCGM finished the quarter with 1.3 million tonnes at 1.9 g/t and ~81,000 ounces of high-grade ore on the ROM pad.
Project Progress and Capital Allocation
Operational growth capital guidance unchanged at $1.14 billion–$1.2 billion. KCGM mill expansion remains on schedule for early FY'27 commissioning. KCGM FY'26 capex items disclosed: mill expansion $640M–$660M, tailings dam $240M–$260M (FY'27 tailings spend lighter at $100M–$120M). Hemi FY'26 forecast spend $165M–$175M reflecting optimization/design work.
Hedge Book Unwinding and Increasing Spot Exposure
158,000 ounces of hedges delivered during the quarter. Remaining commitments were 1.1 million ounces at an average price just over $3,300/oz (≈14.4% of commitments delivered in the quarter), meaning ongoing unwinding will increase exposure to spot as production rises.
Non-cash Inventory and Tax Position
Non-cash inventory charges were a credit of $93 million in the December quarter (driven by lower grade stockpile build and higher ore stocks at KCGM and Thunderbox). Company lowered second-half group cash tax forecast to $230M–$270M.
NESRF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NESRF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 11, 2026 | $20.31 | $20.57 | +1.27% |
Aug 20, 2025 | $11.63 | $11.70 | +0.59% |
Feb 12, 2025 | $10.82 | $11.16 | +3.11% |
Aug 21, 2024 | $9.46 | $9.80 | +3.61% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Northern Star Resources Ltd (NESRF) report earnings?
Northern Star Resources Ltd (NESRF) is schdueled to report earning on Aug 20, 2026, Before Open (Confirmed).
What is Northern Star Resources Ltd (NESRF) earnings time?
Northern Star Resources Ltd (NESRF) earnings time is at Aug 20, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is NESRF EPS forecast?
NESRF EPS forecast for the fiscal quarter 2026 (Q4) is 0.45.