Gold for June delivery is up by 0.92% to $1,230.50 per ounce on the COMEX this afternoon.
Gold prices are receiving a boost from safe-haven investing in the precious metal, the Wall Street Journal reports. The S&P 500 Index is down by about 0.92% and the Dow Jones Industrial Average is sinking by about 0.62% this afternoon.
Gold prices have risen by about 16% so far this year due to market volatility and uncertainty.
Based in Toronto, McEwen Mining is a gold and silver producer that operates in Argentina and Mexico.
Separately, 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.
TheStreet Ratings rates this stock as a "sell" with a ratings score 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. Among the areas we feel are negative, one of the most important has been an overall disappointing return on equity.
You can view the full analysis from the report here: MUX