Morningstar finds Aussie gold miners pricey despite raising valuations

Perseus Mining

05/10/2025 20:25

** Morningstar hikes valuations for Northern Star Resources NST.AX and Evolution Mining EVN.AX by 5% to A$13.70 and A$4.00 respectively

** Also raises fair value estimate for Perseus Mining PRU.AX by 6%

** Valuations raised after investment research firm raises near term gold price assumptions

** However, Morningstar notes that despite hiked valuations, it finds the gold miners materially overvalued

** Says that in the longer term, gold prices are expected to return to fundamentals, despite bullish short term outlook

** Australian gold stocks .AXGD nearly doubled in value YTD, vs benchmark's .AXJO 10.2% rise

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))