Northern Star Resources (ASX:NST) reported fiscal 2026 earnings broadly in line with expectations, but fiscal 2027 guidance was softer, according to a Thursday note by RBC Capital Markets.
The company on Thursday logged AU$1.157 in earnings per share for fiscal 2026, compared with AU$1.116 a year ago, while revenue was AU$7.62 billion versus AU$6.41 billion previously.
The note said that fiscal 2027 all-in sustaining costs are forecast at AU$3,050 to AU$3,450 per ounce, 7% above consensus, while production guidance of 1.50 to 1.65 million ounces is 3% below expectations.
RBC noted that fiscal 2027 is expected to be a transition year as Northern Star focuses on the ramp-up of the new 27 million-tonne-per-year KCGM plant.
RBC Capital Markets maintained its sector perform rating on Northern Star Resources and cut its price target to AU$20 from AU$20.90.
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