Canaccord Genuity has trimmed the price target for Northern Star (ASX:NST) following the firm’s announcement of substantial shutdowns planned across all its production facilities.

The brokerage reduced its target price to A$14.10 from the original A$14.75 but maintained its ‘buy’ rating.

Northern Star, a gold mining company, posted an underlying net profit after taxes of A$301 million, a figure in sync with the Visible Alpha consensus estimate.

The firm has scheduled major shutdowns across its trio of production hubs in September 2023.

Canaccord Genuity has also increased its projection for Northern Star’s underlying free cash flow for fiscal year 2024 to A$228 million from the initial A$144 million.

Among 14 analysts, seven rate the stock as ‘buy’ or higher, six recommend ‘hold,’ and one suggests ‘sell,’ with a median price target of A$12.80.

To date, the stock has ascended by 2.3% for the year, as noted at the last close.

Northern Star is a gold mining company with production centers across multiple locations.