NEW YORK (TheStreet) -- Kinross Gold Corp. (KGC) - Get Kinross Gold Corporation Report shares are spiking 4.3% to $3.15 on Tuesday as gold futures turned higher ahead of the Federal Reserve Chairwoman Janet Yellen's speech this afternoon.
Yellen is scheduled to give a speech in New York today at 12:20 p.m. and could provide more details about the monetary policy.
Dovish comments could give support to the precious metal.
Futures were also lifted by the S&P Case-Shiller home price index report released earlier this morning, suggesting that consumer prices are going up, which could be viewed as a boon for gold, MarketWatch reports.
Gold for April delivery is up 0.6% to $1,227.40 per ounce on the COMEX.
Based in Toronto, Kinross Gold engages in the acquisition, exploration, development, and production of gold properties.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D.
This is driven by a few notable 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 area that we feel has been the company's primary weakness has been its 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' author.
You can view the full analysis from the report here: KGC