BERLIN
NS7.BE
10.71 €UR
28.86%
Gabelli Funds Comments on Northern Star Resources
On November 17 2016
- By Holly LaFon
Northern Star Resources (NST.AX) (1.7%) (NST - $3.57 | $4.66 AUD - Australian Stock Exchange) is a Western Australia based mining company with three primary operating mines in Western Australia. The company acquired operating mines in the region from Barrick Gold and Newmont Mining (3.6%) during the downturn in the cycle when these two companies were selling assets to pay down over-levered balance sheets. The company has been successful in reducing costs at these operations and extending mine lives through exploration. Northern Star is a meaningful free cash flow generative company at the current Aussie dollar gold price, and pays a dividend to shareholders.
From the Gabelli Gold Fund third-quarter 2016 shareholder letter.
This article first appeared on GuruFocus.