NEW YORK (TheStreet) -- Shares of Newmont Mining (NEM) - Get Report were sliding in mid-afternoon trading on Tuesday as gold prices retreated.

For December delivery, gold was dropping 0.52% to $1,320.20 per ounce on the COMEX this afternoon.

The price of the precious metal is lower today due to a stronger dollar. Gold is more expensive to foreign investors when the greenback is strong.

Investors are also awaiting further cues on the pace of future interest rate hikes from non-farm payroll data, due out later this week, Reuters reports.

The metal is non-interest paying and has difficulty competing with assets that offer a yield when interest rates are increased.

"Gold may be especially sensitive to that (jobs data) release should the data be seen as likely to influence the timing of a future interest rate hike," HSBC analyst James Steel said in a note cited by Reuters.

Friday's jobs data is viewed as an important measure of the labor market's strength.

Newmont is a Greenwood Village, CO-based mining company 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 solid stock price performance.

But the team also finds weaknesses including deteriorating net income, disappointing return on equity 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

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