0053 GMT - Northern Star Resources' reset of its FY 2026 expectations has Barrenjoey pondering whether its growth strategy is broken. Analyst Daniel Morgan doesn't think so. But he thinks confidence in Northern Star's ability to execute on its strategy has been damaged. "Still, the Superpit mill expansion is just over a year away from providing a step change in production and free cashflow," Barrenjoey says. Northern Star's Pogo mine is performing well operationally and the company recently acquired Hemi, one of the industry's best undeveloped gold projects, the bank says. Northern Star is trading at a 15% discount to Barrenjoey's estimate of its net present value. "We don't think this valuation gap will close until the market sees evidence of better operational execution," Barrenjoey says.(david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 07, 2025 20:53 ET (00:53 GMT)

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