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NEW YORK (TheStreet) -- Shares of Barrick Gold (ABX) were down 6.94% to $18.69 in mid-afternoon trading on Wednesday as lower gold prices weighed on the Canadian gold producer.

Gold for December delivery was declining 1.23% to $1,329.60 per ounce on the COMEX earlier today. 

The precious metal is under pressure as a stronger greenback makes dollar-denominated commodities more expensive and less desirable to foreign buyers. 

Investors are also looking to Federal Reserve Chairwoman Janet Yellen's speech at the Jackson Hole Symposium on Friday for indications about whether the central bank will soon hike rates. 

"People are probably positioned a little longer than they want to be. They don't want to get caught and so they are taking a little bit off the table," Peter Hug, global trading director at Kitco Metals, told the Wall Street Journal. 

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Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

Barrick Gold's strengths such as its solid stock price performance, growth in earnings per share and increase in net income are countered by weaknesses including generally higher debt management risk and disappointing return on equity.

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

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 article's author. 

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