Gold prices were falling today amid rising expectations for an interest rate hike this year, Reuters reports.
Fed policymaker Stanley Fischer said yesterday that the Federal Reserve is close to reaching its targets for full employment and 2% inflation.
The precious metal pays holders nothing, making it less attractive compared to assets that offer a yield when interest rates are increased.
Market participants are also looking to Friday when Fed Chairwoman Janet Yellen is slated to speak at a economic policy conference in Jackson Hole, WY.
For December delivery, gold was lower by 0.25% to $1,342.90 per ounce on the COMEX this afternoon.
Barrick is a Toronto-based company engaged in the production and sale of gold and related activities such as exploration and mine development.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. 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.
But the team also finds weaknesses including 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 articles's author.
You can view the full analysis from the report here: ABX