Barrick Gold (ABX) Stock Up on Ratings Upgrade Despite Lower Gold Prices

Barrick Gold (ABX) stock is gaining today as gold prices drop.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Barrick Gold (ABX)  are up 1.71% to $21.44 this afternoon despite a drop in gold prices.

Gold for August delivery is down 0.89% to $1,331.60 on the COMEX today.

Earlier today, analysts at Jefferies upgraded their rating on Barrick Gold stock to "buy" from "hold." They also raised their price target to $26 from $15.

The firm said that Barrick Gold is one of its "top picks" in gold mining.

Barrick's higher leverage should help it benefit more than peers from the "higher than previously anticipated gold prices," Jefferies said in a note released this morning.

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 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. 

Loading ...