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    NST   AU000000NST8

NORTHERN STAR RESOURCES LIMITED

(NST)
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Delayed Australian Stock Exchange  -  12:17 2022-08-15 am EDT
8.200 AUD   -0.73%
08/11Banks, miners drag Australian shares lower
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08/05Australian shares gain for third straight week on miners, gold boost
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08/04Australian shares head for third straight weekly gain
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Australian shares end higher on commodity boost; RBA hikes key rate

07/05/2022 | 02:38am EDT

* RBA hikes cash rate by 50 bps to 1.35%

* Benchmark index extends gains

* Gold stocks lead advance

July 5 (Reuters) - Australian shares closed higher on Tuesday, lifted by commodity stocks, while the Reserve Bank of Australia raised its cash rate by 50 basis points (bps) and offered a less hawkish view than what some investors had hoped for.

The country's central bank raised its cash rate for a third straight month to 1.35% and flagged more tightening ahead as it struggles to contain surging inflation.

The S&P/ASX 200 index rose 0.3% to 6,629.30 at the close of trade, extending its gain from Monday's 1.1% rise.

"Today's 50 bps (hike) was in line with expectations and with quarterly inflation numbers out this month, there is a case for more rises coming in July and August," Peter Esho, co-founder at Wealthi, said.

Official data on consumer price inflation for the second quarter is due on July 27 and is expected to show another alarming rise to 6% or more — levels not seen since a national sales tax was introduced back in 2000.

"We're of the view that the cash rate will rise to around 2%-2.25% by the end of the year," he added.

Gold stocks led gains to close up 2.4%, tracking rise in gold prices. Sector heavyweights Northern Star Resources and Newcrest Mining climbed 2.4% and 1.35, respectively.

Energy stocks advanced 2.2% after concerns around tight supply of the commodity shadowed fears of a looming global recession.

Sector majors Woodside Energy Group and Ampol advanced 3.8% and 1.1%, respectively.

Financials erased losses to climb 0.3% after the central bank's announcement. However, shares of three of the so-called "Big Four" banks ended lower, while Westpac was flat.

New Zealand's benchmark S&P/NZX 50 index rose 0.9% to finish the session at 10,965.17 points. (Reporting by Tejaswi Marthi in Bengaluru; editing by Uttaresh.V)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMPOL LIMITED -0.19% 33.655 Delayed Quote.13.69%
GOLD -0.28% 1794.28 Delayed Quote.-1.49%
NEWCREST MINING LIMITED 0.73% 19.23 Delayed Quote.-21.94%
NORTHERN STAR RESOURCES LIMITED -0.73% 8.2 Delayed Quote.-12.22%
S&P/ASX 200 0.59% 7074.6 Real-time Quote.-5.54%
SANTOS LIMITED -0.49% 7.145 Delayed Quote.13.79%
WESTPAC BANKING CORPORATION -1.06% 22.41 Delayed Quote.6.14%
WOODSIDE ENERGY GROUP LTD -0.24% 32.69 Delayed Quote.49.43%
All news about NORTHERN STAR RESOURCES LIMITED
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Financials
Sales 2022 3 751 M 2 664 M 2 664 M
Net income 2022 410 M 292 M 292 M
Net cash 2022 161 M 114 M 114 M
P/E ratio 2022 25,6x
Yield 2022 2,69%
Capitalization 9 624 M 6 836 M 6 836 M
EV / Sales 2022 2,52x
EV / Sales 2023 2,29x
Nbr of Employees 3 383
Free-Float 97,9%
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Technical analysis trends NORTHERN STAR RESOURCES LIMITED
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Mean consensus BUY
Number of Analysts 15
Last Close Price 8,26 AUD
Average target price 10,96 AUD
Spread / Average Target 32,7%
EPS Revisions
Managers and Directors
Stuart Tonkin Chief Executive Officer, MD & Director
Ryan Gurner Chief Financial Officer
Michael Alfred Chaney Non-Executive Chairman
Simon A. Jessop Chief Operating Officer
John Daniel Fitzgerald Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
NORTHERN STAR RESOURCES LIMITED-12.22%6 836
NEWMONT CORPORATION-24.94%36 946
BARRICK GOLD CORPORATION-11.14%29 569
AGNICO EAGLE MINES LIMITED-12.95%21 073
POLYUS-35.94%18 476
WHEATON PRECIOUS METALS CORP.-19.80%15 367