NEW YORK (TheStreet) -- Shares of Barrick Gold (ABX) were advancing in mid-afternoon trading on Thursday after the Canadian gold miner temporarily suspended operations at its Veladero gold mine in Argentina.
The mine will be closed pending additional inspections of its heap leach area after a small amount of processing solution spilled a week ago.
The impacted area has been cleaned up without any solution reaching any water sources, Barrick Gold said in a statement.
Barrick Gold said it does expect the incident to have a material impact on the mine's 2016 operating guidance.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Barrick Gold's strengths such as its solid stock price performance, growth in earnings per share and increase in net income are countered by weaknesses including generally higher debt management risk and disappointing return on equity.
You can view the full analysis from the report here: ABX
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.