Northern Star Resources (OTCMKTS:NESRF) Shares Gap Down – Here’s Why

Northern Star Resources Limited (OTCMKTS:NESRF)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $14.55, but opened at $13.50. Northern Star Resources shares last traded at $13.2725, with a volume of 2,305 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Northern Star Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Northern Star Resources presently has a consensus rating of “Hold”.

Northern Star Resources Stock Up 3.1%

The stock has a market cap of $19.91 billion and a P/E ratio of 288.40. The company’s 50 day moving average price is $14.75 and its 200-day moving average price is $16.72.

About Northern Star Resources

Northern Star Resources (OTCMKTS:NESRF) is an Australian-based gold mining company engaged in the exploration, development, and production of gold through a portfolio of underground and open-pit operations. Headquartered in West Perth, Western Australia, the company focuses on the efficient delivery of ore to onsite processing facilities, employing both conventional and modern mining techniques to optimize recovery and manage operating costs.

The company’s principal operations are located across key gold provinces in Western Australia, including the Kalgoorlie, Kambalda and Jundee regions, as well as the Pogo mine in Alaska, which Northern Star acquired in 2018.