Baillieu Holst Trading Idea of the Day: Northern Star Resources (ASX:NST)

Baillieu Holst Resources Analyst Warren Edney has BUY rating and $2.42 price target. Investment view: Recommendation change BUY rating from HOLD. Our earnings are now broadly in line with Bloomberg Consensus in FY15 and 17 and above in FY16. Our valuation has increased from $1.71 per share to $2.42 per share. The share price appears to be factoring resource-reserve conversion and mine lives similar to our forecast implying that exploration success, an update on their CTP assumptions or an improved Australian gold price outlook. However, balance sheet strength and the potential for the company to grow the business and/or increase dividends makes it a core gold portfolio holding.


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