RBC Capital downgraded Northern Star Resources (NESRF) to Sector Perform from Outperform with a price target of A$17.50, down from A$18.50. The firm says the value from the proposed De Grey Mining acquisition comes with some upcoming permitting and technical risks. Plus, De Grey has no near-term production which is earnings dilutive for Northern Star, the analyst tells investors in a research note.
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Read More on NESRF:
- Northern Star Resources downgraded to Neutral from Buy at Citi
- Australia’s Northern Star to Acquire De Grey Mining for $3.26B
- Northern Star Resources to Acquire De Grey Mining
- Northern Star to Acquire De Grey, Boosting Gold Portfolio
- Northern Star Resources Affirms Stable Reserves and Targets
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
