Banner's 15-minute chart triggers bullish KDJ Golden Cross and Bullish Marubozu.

The 15-minute chart for Banner has exhibited a KDJ Golden Cross and a Bullish Marubozu pattern on May 2, 2023 at 11:45. This indicates a shift in the momentum of the stock price towards the upside, suggesting potential for further increase. The dominance of buyers in the market is likely to continue, as bullish momentum prevails.

Northern Star Resources reported a mixed financial performance in its latest earnings call for the first quarter of 2023. The company highlighted significant operational achievements and strategic initiatives, but the market response was notably negative, with the stock price experiencing a sharp decline. According to InvestingPro data, the company’s Financial Health Score currently stands at 0.86, indicating potential areas of concern [1].

The company generated a net mine cash flow of $295 million in March, an increase of 22% from the previous quarter to $846 million. The company sold 385,000 ounces of gold at an all-in sustaining cost of AUD $2,246 per ounce. However, the company revised its FY25 production guidance to 1.63-1.66 million ounces, contributing to investor concerns [1].

The company’s revised production guidance and increased costs contributed to the negative market reaction. The stock price dropped by 34.07% following the earnings call. InvestingPro data reveals the stock has declined 37.5% year-to-date and 28.57% over the past year, reflecting investor apprehension about increased cost projections and revised production guidance [1].

Northern Star Resources demonstrated robust cash flow generation in the first quarter of 2023. The company’s operating cash flow increased by 22% from the previous quarter to $846 million. The company sold 385,000 ounces of gold at an all-in sustaining cost of AUD $2,246 per ounce [1].

The company plans to increase exploration expenditure to $180-$230 million and accelerate growth capital expenditure to $950-$1,100 million. The KCGM mill expansion is expected to generate positive free cash flow, while the company targets a 2 million ounce production milestone. CEO Stuart Tonkin emphasized the favorable market conditions due to the high gold price [1].

Northern Star Resources faces a challenging landscape as it navigates increased costs and revised production targets. While the company remains optimistic about future growth and market conditions, investor sentiment has been cautious, reflected in the significant stock price decline [1].

References:
[1] https://www.investing.com/news/transcripts/earnings-call-transcript-northern-star-resources-faces-challenges-in-q1-2023-93CH-4008599