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Northern Star Resources Reports 'Mixed' Result in March Quarter, Jarden Research Says

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Northern Star Resources (ASX:NST) reported a "mixed" March quarter result, with operating metrics generally better than feared after the numerous guidance downgrades through the quarter, Jarden Research said in a Thursday note.

The company produced 387,000 ounces of gold and sold 381,000 ounces at an all-in sustaining cost of AU$2,709 per ounce.

However, financial outcomes were impacted by a poor gold price realization of AU$5,283 per ounce, about 24% below the prevailing average of AU$6,995 per ounce and 8% below Jarden estimates.

The company's revenue of AU$2 billion subsequently came in at around 11% below consensus, but 5% above Jarden estimates.

Jarden Research maintained its underweight rating on Northern Star Resources and lowered its price target to AU$22.30 from AU$22.50.

Northern Star Resources shares fell 3% in afternoon trade on Friday.

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