Stocks of the Hour: BHP, Stockland & Northern Star Resources

Company News

by Lauren Evans

Mining giant BHP (ASX:BHP) reported a softer iron ore output while reassuring investors that the merger with Woodside Petroleum (ASX:WPL) is going ahead. The news was underpinned by financial year 2022 guidance remaining unchanged. Iron ore output fell 3 per cent quarter on quarter and 4 per cent year on year. Shares in BHP (ASX:BHP) are trading 1.6 per cent lower at $38.58.

Stockland (ASX:SGP) maintained momentum in its residential and commercial sales during the September quarter. The news was underpinned by its FY22 guidance remaining unchanged, despite ongoing Covid-19 disruptions. Total residential sales were up 8 per cent from the prior quarter. Shares in Stockland  (ASX:SGP) are trading 0.7 per cent higher at $4.63.

Northern Star Resources (ASX: NST) has reported a drop in gold production for the September quarter, but remains on track to meet its FY22 guidance. Northern Star's three mines all contributed to the losses, while the company said that gold production is weighted towards the second half of FY22. Shares in Northern Star Resources (ASX:NST) are trading 0.5 per cent higher at $9.46.

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