Barrick Gold (ABX) Stock Down, Argentina Mine Operations Remain Suspended - TheStreet

NEW YORK (TheStreet) -- Shares of Barrick Gold (ABX) were falling in late morning trading on Friday after Argentina judge Pablo Oritja ruled to keep the company's operations at the Veladero mine in Argentina halted, Reuters reports.

The Toronto-based miner has been working to repair the mine following a leak earlier this month of processing solutions containing cyanide. The company has successfully raised a berm over which the solution initially flowed.

But Barrick Gold has not installed the security cameras and sensors the local government mandated, Oritja said, Reuters notes.

The company has not disclosed how much of the solution was spilled in the leak.

Additionally, gold for December delivery was down 0.15% to $1,324 per ounce on the COMEX this morning, further weighing on Barrick Gold stock.

Separately, 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.

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, growth in earnings per share and increase in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and disappointing return on equity.

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

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