NEW YORK (TheStreet) -- Shares of Barrick Gold (ABX) are down by 2.13% to $21.57 in early afternoon trading on Tuesday, as lower gold prices weigh on some mining and related companies. 

Gold for August delivery is down by 1.3% to $1,339 per ounce on the COMEX this afternoon. 

The price of the precious metal has fallen two days in a row as Brexit uncertainties ease, thus decreasing demand for safe haven stocks. 

"Tensions in Britain are easing for now, as the country will soon have a new prime minister," ActivTrades chief analyst Carlo Alberto de Casa told Reuters. "With the British pound gaining some ground, demand for gold and other safe havens is decreasing." 

Since the United Kingdom voted to leave the European Union gold prices have increased by about $100 an ounce. 

Barrick Gold is a Toronto-based mining company.

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 has this to say about the recommendation:

We rate BARRICK GOLD CORP as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. 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, as a counter to these strengths, we also find 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

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