NEW YORK (TheStreet) -- Barrick Gold (ABX) shares are down 1.2% to $10.71 in early market trading on Wednesday as the gold producer suffered from falling COMEX gold prices today.
COMEX gold prices for February delivery are down 0.48% to $1,194.60 per ounce in trading so far today.
"We expect trading ranges to narrow today, the last day of 2014, as we move forward to the point where the gold and silver prices make strong moves into the New Year. What is of note is the strength of gold in the euro at €985," said analysts at Gold Seek.
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Citing an analyst note from ANZ Bank, Forbes reports that analysts expect the price of gold to hover around $1,238 an ounce for 2015.
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 multiple 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."