Northern Star Resources Ltd (ASX: NST) shares are pushing higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) gold stock closed yesterday trading for $20.25. In early morning trade on Wednesday, shares are changing hands for $20.36 apiece, up 0.5%. This sees the share price up 27.9% over the past 12 months.
For some context, the ASX 200 is 0.8% today, and up 3.6% in a year.
Today's performance follows the release of Northern Star's June quarter operations update (Q4 FY 2026).
Here's what's happening.
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Northern Star shares gain on gold sales boost
Investors are bidding up Northern Star shares today after the company reported gold sales of 433,482 ounces over the three-month period, up 14% quarter on quarter.
The miner produced that gold at an all-in sustaining cost (AISC) of $2,651 per ounce.
A strong June quarter saw Northern Star sell 1.543 million ounces of gold over the full FY 2026 year. And full-year AISC of $2,698 per ounce was within the company's cost guidance. Management estimated FY 2026 earnings to be in the range of $2.86 billion to $2.95 billion. That compares to cash earnings of $2.87 billion in FY 2025.
Returning to Q4, Northern Star achieved quarterly underlying free cash flow of $206 million.
Turning to the balance sheet, as at 30 June, the ASX 200 mining stock held cash and bullion of $1.235 billion, after its $129 million share buyback expenditures.
And on the major project front, commissioning is underway and on schedule for the stage 1 KCGM Mill Expansion Project, which will increase the mill's processing capacity to 27 million tonnes per year.
What did management say?
Commenting on the results helping lift Northern Star shares today, managing director Stuart Tonkin said:
The June quarter delivered improved operational performance and positive net mine cashflow of $443 million demonstrating the quality of our portfolio and reinforcing the long-term value potential of the business.
With the commissioning of the KCGM Mill Expansion Project now underway, Northern Star is well positioned to deliver significant shareholder returns.
What's next for Northern Star shares?
Looking at what could impact the Northern Star share price in the months ahead, the miner said it will report its FY 2027 sales and production guidance on 20 August, when it will also release its audited FY 2026 results.
The miner noted:
Given the KCGM Mill Expansion has recently entered first-phase commissioning, the company considers it prudent to allow a short, further period of time to assess initial performance and incorporate early operating data before forming its view on FY27 group guidance.
The year ahead will also see a changing of the guard, with new managing director and CEO, Suresh Vadnagra, taking the helm on 5 October.
