NEW YORK (TheStreet) -- Shares of McEwen Mining (MUX) - Get Report are climbing 6.78% to $3.15 on heavy trading volume late Monday afternoon as gold prices hit a four-week high.

For August delivery, gold is advancing 0.78% to $1,285.80 per ounce on the COMEX this afternoon.

The price of the yellow metal is gaining amid uncertainty over whether the U.K. will leave the European Union next week, which is troubling investors, the Wall Street Journal reports.

Gold has become a popular safe-haven asset for investors during times of economic and financial turmoil.

The impending referendum in Britain on it potentially leaving the EU has spurred concern in global stock markets as investors consider the impact a British exit would have on the global economy, the Journal said.

The vote is slated for June 23.

"The unease in the global markets is palpable," Peter Hug, global trading director at Kitco Metals, said in a research note cited by the Journal. "High volatility will be the norm until we re-emerge next Monday."

McEwen Mining is a Toronto-based mining and minerals exploration company focused on precious and base metals in Argentina, Mexico and the U.S.

About 5.8 million of the company's shares were traded so far today vs. its average volume of 2.28 million shares per day.

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, impressive record of earnings per share growth and compelling growth in net income.

But the team also finds that the company's revenue growth has not been good.

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: MUX

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