For August delivery, gold is down 0.75% to $ 1,213.50 per ounce on the COMEX this afternoon.
The price of the precious metal hit its lowest level in over three months today amid growing expectations of a Federal Reserve interest rate hike, the Wall Street Journal reports.
Gold is non-interest paying and has difficulty competing with assets that bear a yield when interest rates are raised.
"Expectations for summer rate hikes from the Fed have changed over the past couple of weeks, and looking at that, combined with the dollar being off its lows, equities near the highs, and yields higher, it's a warranted move in gold," UBS analyst Joni Teves told Reuters.
Newmont is a Greenwood Village, CO-based mining company that is focused on the production of and exploration for gold and copper.
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 revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins.
However, as a counter to these strengths, the team also finds weaknesses including disappointing return on equity, weak operating cash flow and feeble growth in the company's earnings per share.
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: NEM