NEW YORK (TheStreet) -- Barrick Gold (ABX) shares are declining by 0.98% to $17.09 on Thursday afternoon, along with gold prices following remarks from Federal Reserve Governor Jerome Powell. 

Earlier today, Powell said an interest rate hike could be appropriate "fairly soon,"  CNBC reports.

"There are good reasons to think that underlying growth is stronger than these recent readings suggest," Powell said in prepared remarks to be delivered at the Peterson Institute for International Economics in Washington," according to Reuters.

Looking ahead, he will be closely watching for more economic reports to get a better sense of the economy's health. 

Gold for June delivery is sliding by 0.25% to $1,220.70 per ounce on the COMEX this afternoon. 

Usually, U.S. interest-rate increases strengthens the dollar, which is bad news for dollar-priced gold. 

Separately, TheStreet Ratings currently has a "Hold" rating on the stock with a letter grade 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, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher 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 article's author.

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

Image placeholder title