Kinross Gold (KGC) Stock Slides with Falling Gold Prices
NEW YORK (TheStreet) -- Shares of Kinross Gold (KGC) - Get Report are down 0.36% to $5.54 today as gold falls for the second consecutive day.
Gold for August delivery is down 1.25% to $1,339.70 per ounce on the COMEX. Gold prices have risen 25% in 2016, and silver prices 46% percent.
September silver is up 0.26% to $20.36 per ounce on the COMEX.
Gold prices are falling this week as Brexit tensions slowly begin to ease. The U.K. is set to have a new prime minister, as David Cameron steps down. He is to be replaced by Theresa May, former U.K. home secretary.
With less volatility in the market, investors see fewer reasons to purchase safe haven assets like gold.
Kinross Gold is a Toronto-based gold mining company.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C-.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance.
However, as a counter to these strengths, TheStreet Ratings feels that the company's cash flow from its operations has been weak overall.
You can view the full analysis from the report here: KGC
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.