Sydney, Jan 8, 2026, 16:51 AEDT — After-hours
- Northern Star ended down 3% after a weak quarter kept broker caution in play.
- UBS trimmed its price target but kept a buy call, pointing to a production miss and tighter cash-flow math.
- Investors now look to Jan. 22 for the miner’s full quarterly numbers and revised cost guidance.
Northern Star Resources Ltd shares ended down 3% at A$24.60 on Thursday, after trading between A$24.57 and A$25.08. The stock is still up about 56% over the past year. 1
The slide came as UBS analyst Levi Spry trimmed his price target to A$29.45 from A$29.75 while keeping a buy rating, after the miner’s December-quarter output came in below expectations. UBS said production was 348,000 ounces, about 11% under its estimate, and noted the company cut fiscal 2026 guidance to 1.6 million-1.7 million ounces; UBS also lowered its own FY26 estimate to 1.57 million ounces and cut FY26 earnings-per-share forecasts by 14%. 2
That matters now because investors are trying to judge whether the stumble is a one-off or the start of a rougher run across Northern Star’s main hubs. Simply Wall St said equipment failures and outages at Kalgoorlie, Jundee and Pogo helped drive the weaker quarter and the guidance trim. 3
A filing dated Jan. 7 showed the company issued 95,284 unquoted performance rights under an employee incentive plan, with the notice indicating some grants went to key management personnel. 4
Another Jan. 7 filing showed 138,237 performance rights lapsed after employment cessations during the quarter ended Dec. 31. 5
Gold prices also eased, cutting some of the tailwind that has lifted miners in recent months. Spot gold slipped 0.3% and Bernard Sin, regional director for Greater China at MKS PAMP, said traders were “weighing heightened geopolitical tensions… against macroeconomic signals” ahead of U.S. payrolls data due on Friday. 6
The broader Australian market finished higher, but the raw materials sector was the only one to end lower as profit-taking hit miners after recent gains. 7
