Northern Star climbs to record high as first-half profit surges 49%
Australia's Northern Star Resources reported a 49% surge in its first-half profit on Thursday, boosted by higher realised gold prices, sending its shares to a record high.
Shares of the company rose as much as 6.7% to an all-time high of A$30.16, and were among the top gainers in the benchmark index .AXJO, which was up 0.6% by 00:44 GMT.
Northern Star announced an interim dividend of 25 Australian cents, unchanged from the previous year.
The gold miner reported a 19% rise in half-year revenue to A$3.41-billion, driven by a 31% increase in its average realised gold price, despite lower sales volumes during the period.
Gold sales totalled 729 000 oz for the half year, down from 804 000 oz a year earlier.
The company also posted a non-cash impairment charge of A$77.6-million following its half-year review of the exploration portfolio.
The miner's cost of sales rose 9% in the reported period, driven by increased mining activity, higher crushing and maintenance expenses, and inflationary pressures on labour and contractor rates.
That brought its underlying net profit after tax to A$759.8-million ($541-million) for the half-year period ended December 31, compared with A$511.5-million a year earlier.
Last month, the miner lowered its fiscal year 2026 group production outlook to 1 600-1 700koz from 1 700-1 850koz, citing weaker gold sales across all three production centres in the December quarter.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...
VISIT SHOWROOM
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
