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Northern Star (ASX:NST) fell -7.34% in early afternoon trades as the company flagged that Kalgoorlie gold production was below already-revised guidance forecasts.
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While the company disclosed it was “pleased” to announce these results to market, shareholders weren’t – evidenced in the decline to $17/sh. “For the Kalgoorlie Production Centre, total gold sold was 832koz for the year, below the revised guidance range,” NST wrote. That was enough to do it.
Not helping matters either: FY26 performance is anticipated to be net positive, but the September quarter was described as likely to be “soft.”
That makes it a tough month for Northern: It’s down nearly -20% MoM per market data.
It’s been a sore spot for shareholders, especially those likely remembering performance just a month or so ago. Gold prices trading more or less sidewards lately are one thing, and so is a wearing-off of momentum spurned by the company’s acquisition of De Grey back in December last year.
Not helping matters for gold miners in more recent history, either, was the Iran-Israel ceasefire.
NST last traded at $17.04/sh.
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