Northern Star Resources (NST) is one of the world largest gold producers.
“As a low cost producer that continues to grow production, it should continue to do very well as the gold price continues to climb,” Michael said.
“Despite the recent move higher in the price of gold, I believe it still has further to run.
“When it comes to gaining exposure to gold via a gold miner, many investors would know that the price action of many gold stocks can be very volatile.
“However, NST is displaying much more sensible characteristics.
“NST has been trading in a very orderly way since the October low.
“It rallies sharply and then consolidates the moves by easing back in a bull flag (blue lines). “The current bull flag appears to be ending, so this dip is another buying opportunity.
“Our next target from here would be up near $17 for the short term, but I expect this would be eclipsed in the longer-term due to higher gold prices,” Michael said.
Northern Star Resources (NST)
Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regard to your circumstances.
