Barrick Gold (ABX) Stock Declines as Gold Prices Retreat
NEW YORK (TheStreet) -- Shares of Barrick Gold (ABX) are retreating 0.14% to $21.44 this afternoon as gold prices slide.
Gold for August delivery is down 0.36% to $1,331.90 per ounce on the COMEX.
The commodity is on track for a 2.2% loss this week, marking the first week in the past seven that gold has not posted gains.
Following the terror attack in Nice, analysts expected investors to flock to the safe-haven metal, MarketWatch reports.
However, global investors' appetites for risk are improving which is driving them away from metals, CNBC says.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins and good cash flow from operations. However, TheStreet Ratings also finds weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity.
You can view the full analysis from the report here: ABX
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.