Our ALGO engine triggered a buy signal on NST on May 24th at $6.16.
At the time, we referred to the company’s recent production forecast of 600,000 ounces of Gold for 2018 as a net positive.
However, a recent research note from UBS has upgraded their production to 690,000 ounces and set a 12-month target on the stock at $7.50.
Considering the recent weakness in Spot Gold, we expect NST to continue to trade higher as the Spot market improves. Northern Star