Morgans rates Boss Energy, Northern Star and Woodside shares as accumulate, accumulate and hold
AI Market Summary
Broker commentary on three Australian resource names is mixed: Boss Energy met broader guidance but Alta Mesa materially missed consensus due to permitting delays; Northern Star's cost beats were offset by a valuation-driven downgrade after a rebound; Woodside's revenue beat was partly marketing-led while higher net debt looked timing-related. Overall, the updates are stock-specific with limited broader read-through for commodities in the near term.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-0.23%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Boss Energy (ASX: BOE) reported a quarterly operating update, with Alta Mesa producing 362klb of uranium in 4Q FY2024, up 79% quarter on quarter, meeting its full-year production guidance. However, Alta Mesa’s output was just 45klb on a 100% basis, about 78% below market consensus, as permitting delays held back the start-up of new wellfields. The stock was kept at an ACCUMULATE rating, while the target price was cut to A$1.40 from A$1.55.
