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

Gold for December delivery was recently retreating 1.02% to $1,330.40 per ounce on the COMEX.

The precious metal is under pressure as the dollar strengthens, making the dollar-priced commodity more expensive to foreign buyers.

Additionally, last night's U.S. presidential debate is weighing on safe-haven demand for the metal.

Investors view Democratic presidential candidate Hillary Clinton as the status-quo nominee, while Republican Donald Trump's candidacy is less predictable. Clinton appears to have bested Trump in last night's first of three debates. 

"The debate gave financial markets more optimism over the outlook so it put a little bit of pressure on gold, especially because the U.S. dollar has been supported by its outcome," ETF Securities analyst Martin Arnold told Reuters. "It takes away some of the uncertainty that has been weighing on investors' minds."

Newmont Mining is a Greenwood Village, CO gold and copper producer.

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C+.

Newmont Mining's strengths such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance are countered by weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share.

You can view the full analysis from the report here: NEM

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 article's author. 

Image placeholder title