Northern Star Resources posted a mixed quarter, with gold 8% above Morgan Stanley but all-in costs 5% higher.
Commenting on the result, Morgan Stanley notes a gold beat of 17% at KCGM plus rising tonnage suggests a positive trajectory.
Notable site results included a gold beat for Jundee, KCGM beat on all-in costs, while Kalgoorlie was high on costs.
The Equal-weight rating and target price of $11.10 are retained. Industry view: Attractive.
Target price is $11.10.Current Price is $10.12. Difference: $0.98 - (brackets indicate current price is over target). If NST meets the Morgan Stanley target it will return approximately 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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