NEW YORK (TheStreet) --Shares of Barrick Gold Corp. (ABX) are gaining by 4.65% to $14.17 on Wednesday morning, as gold prices trade in the green.

For April delivery, gold is rallying by 2.3% to $1,250.70 per ounce on the COMEX this morning.

The price of the precious metal is rising on higher safe-haven demand as falling oil prices weigh down global stock markets, Reuters reports.

"It's the financial market turmoil and negative interest rates ... lifting safe-haven flows into gold," Societe Generale analyst Robin Bhar told Reuters.

Shares in Europe and Asia dropped as crude prices continued to decline on comments from Saudi Arabia's oil minister, who ruled out reducing output.

So far this year, the metal has advanced by about 16% on concerns over the world economy and financial volatility, Reuters noted.

Barrick Gold is a Toronto-based gold mining company engaged in the production and sale of gold and copper.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.

TheStreet Recommends

This is driven by some concerns, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered. 

The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and disappointing return on equity.

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.

You can view the full analysis from the report here: ABX

Image placeholder title


data by