It’s been few good months for gold miners, and $6.03 billion market cap gold production and exploration company Northern Star Resources Ltd (ASX: NST) is no exception.
Northern Star shares touched 52-week highs earlier this week but have dropped back 1.7% to $9.27 at the time of writing off the back of the release of its September quarter activities report.
The report maintained Northern Star is on track to meet FY19 guidance of between 850,000 oz and 900,000 oz with an all-in sustaining cost (AISC) of between $1,050 and $1,150 per oz.
Northern Star has officially taken control of the Alaskan Pogo mine after finalising the acquisition on September 28 with forecasts it will raise mill utilisation rates at the mine to 90% this quarter and 100% in the June quarter.
Other gold miners slipping off 52-week highs right now include OceanaGold Corp (ASX: OGC) and Saracen Mineral Holdings Limited (ASX: SAR) who have both responded to an overall correction on the S&P/ASX 200 today by slipping down into the red.
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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.