Stocks of the Hour: Santos, Northern Star, Netwealth

Company News

by Melissa Darmawan

Stronger commodity prices and higher sales volumes helped Santos (ASX:STO) post record quarterly revenue and annual profit results, boosted by a $21 billion merger with Oil Search that was completed last year. Shares are trading 0.1 per cent lower at $7.19.

Meanwhile, Northern Star (ASX:NST) defied the skills shortage and posted a rise in gold output in the December quarter from the prior quarter. The gold miner said its local operations performed in line with expectations in the period, but its Pogo mine in Alaska lagged again. The company is on track to meet its financial year guidance this year. Shares are trading 7.8 per cent higher at $9.43.

Funds under administration at Netwealth (ASX:NWL) were propelled higher by 9 per cent to $56.6 billion in the December quarter. The company has raised its target for inflows to $13.5 billion for funds under administration as they continue to experience favourable conditions. Shares are trading 0.8 per cent higher at $16.56.

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