Kinross Gold (KGC) Stock Takes a Hit on Declining Gold Prices
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NEW YORK (TheStreet) -- Shares of Kinross Gold (KGC) - Get Report are down 5.14% to $5.45 in mid-afternoon trade as gold prices begin to fall this afternoon.
Kinross Gold is a Toronto-based gold mining company.
Gold for August delivery is down 0.45% to $1,361.90 per ounce on the COMEX.
Gold futures have fallen back from two-year highs today, and are on track to close lower for the first time in four sessions. Prices had risen on lingering market uncertainty following the Brexit decision.
The retreat today has been spurred by upbeat U.S. economic data leading to uncertain expectations for U.S. interest rates.
Precious metals tend to do well in low-rate climates, as commodities do not offer a yield to investors.
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, 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.