Up 33% in 2 weeks, Northern Star share price surging again today on $500 million news

The Northern Star Resources Ltd (ASX: NST) share price is charging higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) gold stock closed yesterday trading for $22.10. In early morning trade on Thursday, shares are swapping hands for $22.86 apiece, up 3.4%.

For some context, the ASX 200 is up 0.4% at this same time.

While shares in the Aussie gold mining giant remain down 6.5% in 2026, the Northern Star share price has now surged 32.8% since the recent closing lows on 23 February.

Here’s what’s grabbing investor interest today.

Northern Star share price jumps on buyback news

The ASX 200 gold stock released two price-sensitive updates before market open this morning.

Turning to the one that’s likely giving the Northern Star share price the biggest boost today first, the miner announced plans to undertake an on-market share buyback of up to $500 million.

When a company repurchases its own shares, it leaves fewer for sale on the market, which tends to increase the value of its remaining shares.

Management expects the buyback to start around 23 April, with an aim to complete it within 12 months.

Commenting on the buyback, Northern Star managing director Stuart Tonkin said:

Today’s announcement reflects our confidence in the strength of our business, the structural uplift in cash generation expected from the commissioning of the KCGM Mill Expansion and the compelling value we see in our share price.

The on-market buy-back, representing up to 1.6% of issued share capital, is an efficient way to return capital to shareholders while also being immediately earnings and value accretive. We believe current share prices do not fully reflect the quality and future potential of our assets.

Northern Star noted that the buyback is subject to prevailing share price and market conditions, with no guarantee that any shares will be repurchased. The buyback does not require shareholder approval.

What else did the ASX 200 gold stock report?

In a separate update this morning that could also be offering support to the Northern Star share price, the miner reported that it’s on track to meet its revised full-year FY 2026 guidance of at least 1.5 million ounces of gold.

Over the March quarter, the company sold 381,000 ounces of gold. That brought its year-to-date gold sold for the nine months to 1.11 million ounces.

With the Iran war crimping global fuel supplies, the miner noted that while it is not currently experiencing any diesel supply issues, this remains a key risk for the broader mining industry in Australia.

Despite the sharp sell-down in the first three weeks following the outbreak of the war, Northern Star stock is up 26.5% over 12 months, not including dividends.

The post Up 33% in 2 weeks, Northern Star share price surging again today on $500 million news appeared first on The Motley Fool Australia.

More reading

• Northern Star Resources posts Q3 gold sales, on track for FY26
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• These were the worst-performing ASX 200 shares in March

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.