Sydney, January 17, 2026, 16:55 AEDT — The market has closed.
- Northern Star shares closed Friday down 1.0%, slipping to A$26.83.
- Gold slipped on Friday but remained on track for a weekly rise following a record high earlier in the week.
- Traders await the company’s upcoming update on December-quarter costs and any revisions to its guidance.
Northern Star Resources Ltd (NST.AX) shares slipped 1.0% on Friday to close at A$26.83, ending a four-day winning streak. The Australian gold miner faces a crucial earnings week amid bullion prices pulling back from record peaks. The stock fluctuated between A$26.565 and A$27.660, with roughly 7.45 million shares traded.
Northern Star now faces tighter margins for error after this pullback. Its shares have climbed roughly 9% in the past week—a sharp uptick for a large-cap miner that usually invites closer examination of short-term expenses.
Gold prices slipped on Friday as a stronger U.S. economic report boosted the dollar and trimmed bets on near-term rate cuts. Still, the metal was poised to close the week up around 2%, after hitting a record peak midweek. Spot gold — for immediate delivery — fell 0.2% to $4,604.29 an ounce by 0733 GMT, Reuters reported.
Earlier this month, Northern Star lowered its fiscal 2026 outlook, dialing down full-year gold sales to between 1.6 million and 1.7 million ounces, from the previous range of 1.7 million to 1.85 million. The company posted first-half sales of 729,000 ounces, with preliminary December-quarter figures hitting 348,000 ounces, following 381,000 ounces in the September quarter.
Chief executive Stuart Tonkin said the upcoming update will address the missing cost details. “We will be providing December quarter costs with the quarterly results published on Thursday, 22 January,” Tonkin noted during a company call, adding the report will also cover full-year cost guidance. Seeking Alpha
Responding to an ASX query, the company said it only came to its conclusion on January 1, 2026—after reviewing December-quarter results—that the softer quarter would probably have a material effect on hitting prior production targets. It added it was “not yet in a position to reasonably confirm” how this would affect annual cost guidance and promised updates once it could quantify any significant changes.
Brokers remain focused on whether upcoming results will trigger a deeper reset. BMO Capital lowered its price target to A$31 from A$33 but kept an “Outperform” rating, following the miner’s sales miss. According to an Investing.com report, the quarter’s output of about 348,000 ounces fell short of both BMO’s forecast and the wider consensus.
In the sector, Australian gold stocks often act like a leveraged play on bullion. When spot prices jump, miners get a boost; but if the metal stalls, declines hit fast—especially for firms juggling operational issues.
The risk is clear: if December-quarter costs come in above market forecasts, or if management raises full-year cost guidance, the recent rebound in the share price might falter. A steeper drop in bullion prices would only amplify the pressure, hitting both revenue forecasts and investor sentiment simultaneously.
Northern Star will release its December-quarter results on Thursday, January 22, with FY26 half-year figures due Thursday, February 12. Investors want fresh cost data and a clear signal on whether the company plans to adjust its annual cost guidance.
