Lonestar Capital Management LLC Buys Shares of 175,000 Barrick Gold Corp (NYSE:GOLD)

Lonestar Capital Management LLC bought a new stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 175,000 shares of the gold and copper producer's stock, valued at approximately $2,712,000. Barrick Gold accounts for about 1.0% of Lonestar Capital Management LLC's investment portfolio, making the stock its 16th biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Barrick Gold by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock valued at $9,630,000 after acquiring an additional 80,366 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Barrick Gold by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock worth $78,637,000 after purchasing an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH grew its stake in Barrick Gold by 97.3% in the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer's stock worth $22,630,000 after purchasing an additional 720,000 shares in the last quarter. Legend Financial Advisors Inc. bought a new stake in Barrick Gold in the fourth quarter valued at about $700,000. Finally, Gateway Investment Advisers LLC raised its stake in Barrick Gold by 6.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 278,717 shares of the gold and copper producer's stock valued at $4,320,000 after buying an additional 17,980 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. National Bank Financial upgraded Barrick Gold to a "hold" rating in a report on Friday, March 21st. StockNews.com raised shares of Barrick Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 5th. BMO Capital Markets started coverage on shares of Barrick Gold in a research report on Wednesday, April 16th. They set a "market perform" rating for the company. Bank of America lowered Barrick Gold from a "buy" rating to a "neutral" rating and lowered their target price for the company from $21.00 to $18.00 in a report on Monday, January 27th. Finally, Scotiabank boosted their price objective on Barrick Gold from $20.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.05.

Barrick Gold Stock Down 0.4 %

Shares of Barrick Gold stock traded down $0.08 during midday trading on Friday, reaching $18.30. 12,324,454 shares of the company's stock traded hands, compared to its average volume of 21,420,717. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. Barrick Gold Corp has a 52 week low of $15.11 and a 52 week high of $21.35. The company's 50 day simple moving average is $18.97 and its 200 day simple moving average is $17.90. The company has a market cap of $31.46 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last announced its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, hitting analysts' consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Equities analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.19%. Barrick Gold's dividend payout ratio (DPR) is presently 32.52%.

Barrick Gold declared that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Barrick Gold Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.