0213 GMT - BlueScope's North Star steel mill in Ohio is "one of the lone standing high-quality (and nonunion) U.S. carbon sheet assets yet to be acquired," say KeyBanc Capital Markets analysts Philip Gibbs and Samuel McKinney. Their remarks follow a bid to acquire BlueScope made by SGH and Steel Dynamics. Under the proposal, Steel Dynamics would get BlueScope's North American assets and SGH its businesses elsewhere. A successful deal would increase consolidation in the U.S. sheet market, the KeyBanc analysts say. They estimate the four top producers--which include Steel Dynamics--would have nearly 90% of the market in 2027 versus more than 80% at the end of 2024. BlueScope is up 21% at A$29.67/share. ([email protected]; @RhiannonHoyle)

Engineering contractor Civmec's latest contract wins boost confidence in earnings momentum that is building into 2H of 2026 and 2027, says Euroz Hartleys. Civmec has secured A$400 million in new contracts and extensions, including work for BHP at Port Hedland in Australia. "The contract wins are pleasing in the context of a well-documented strategic focus on early contractor involvement, order book diversification, and tier 1 company relationships," says analyst Gavin Allen. Euroz Hartleys had a buy call and A$1.46/share price target prior to the contract wins. Civmec ended Monday at A$1.595, representing a record high for the stock. ([email protected]; @dwinningWSJ)

Northern Star Resources needs to rebuild credibility in its guidance, says Jefferies. Northern Star now expects to produce 1.60 million-1.70 million oz of gold in FY 2026, down from an earlier goal of 1.70 million-1.85 million oz. It blamed the downgrade on setbacks that include a primary crusher failure at a key processing plant at its Kalgoorlie mining hub in Western Australia. Jefferies stays confident in the long-term value of Northern Star's assets, with a buy call on the stock. "Near-term, sentiment likely stays cautious until KCGM throughput stabilizes in January-February, Jundee resumes normal crushing by mid-February, and Pogo dilution is contained," analyst Mitch Ryan says. "The revised guidance range leaves less room for further outages." ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires