NEW YORK (TheStreet) -- Shares of Barrick Gold Corp. (ABX) are falling, down 5.26% to $11.52 in midday trading Monday to give up a portion of the gains the company made on Friday after gold prices rallied.
Gold for December delivery rose by 2.4%, or $27.20, to settle at $1,169.80 per troy ounce on Friday, the Wall Street Journal reported.
The rally in Barrick Gold shares on Friday was attributed to data that showed jobs growth in October was weaker than expected, along with gold having its largest one-day percentage gain since June 19, according to the Journal.
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About 6.3 million shares of Barrick Gold were traded as of 12:10 p.m., compared to its average trading volume of about 15.05 million a day.
Separately, TheStreet Ratings team rates BARRICK GOLD CORP as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate BARRICK GOLD CORP (ABX) a SELL. This is driven by a few notable weaknesses, which we believe 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 we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."