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It’s been another day of market gains, marking a perfect ten-for-ten streak, and today’s focus in the ASX share market has been on gold stocks. Notably, three prominent ASX gold shares—Northern Star Resources Ltd (ASX:NST), Regis Resources Ltd (ASX:RRL), and St Barbara Ltd (ASX:SBM)—have all released their FY2024 earnings reports, each drawing varied responses from investors.
Northern Star Resources Shines Bright
Northern Star Resources reported a stellar performance for FY2024. The gold producer saw a significant 48% increase in cash earnings, reaching AUAU$1.81 billion, while revenue rose by 19% to AU$4.92 billion. This robust growth translated into a 9% increase in reported net profit after tax (NPAT), which stood at AU$639 million. The company declared a final dividend of 25 cents per share, marking a substantial 61% year-over-year increase.
The market has responded positively to Northern Star's impressive results, with the company’s share price climbing 1.6% at the time of writing. This reflects investor confidence in the company’s strong performance and attractive dividend payout.
Regis Resources Faces Mixed Reactions
In contrast, Regis Resources’ earnings report has yielded a mixed response. The company reported AU$1.26 billion in sales revenue for FY2024, an 11.3% rise from the previous year. Underlying EBITDA increased to AU$421 million, supported by a higher realized gold price of AU$2,976 per ounce. However, normalized EBITDA fell from AU$369 million to AU$297 million, resulting in a significant loss after tax of AU$186 million.
Regis ended the financial year with a cash and bullion balance of AU$295 million and a net debt of AU$5 million. The volatile reaction to Regis’ earnings is evident in its share price, which has fluctuated between positive and negative territory, currently down 0.58% at AU$1.73 per share.
St Barbara’s Earnings Highlight Cost Pressures
St Barbara’s report shows a more positive market reaction despite disappointing earnings figures. The company reported a revenue decline to AU$224 million from AU$324 million the previous year. EBITDA excluding significant items turned negative, resulting in a AU$28 million loss compared to a AU$114 million gain in FY2023. The statutory loss after tax was AU$54 million, and the underlying loss was AU$38 million.
St Barbara’s all-in-sustaining cost (AISC) per ounce surged to AU$3,620, up from AU$2,356, though the realized gold price also increased to AU$3,114. The market seems cautiously optimistic, with St Barbara’s share price rising by 2.75% to 26.3 cents apiece after an initial drop.
