NEW YORK (TheStreet) -- Shares of Kinross Gold (KGC) finished the day in the green, up by 2.05% to $2.49 on Monday afternoon, as some mining and related stocks got a boost from the rebound in the price of gold.
Gold for June delivery is advancing by 1.06% to $1,186.90 per ounce on the COMEX this afternoon.
The yellow metal's price spiked today as some buyers returned to the market looking for a bargain following last week's selloff, the Wall Street Journal reports, adding that gold prices fell last week as investors lost sentiment toward the safe haven asset due to hawkish statements from the Fed.
Other stocks within the gold sector that jumped today include Alamos Gold (AGI), which closed higher by 3.04% to $7.12, B2Gold (BTG), up by 3.87%, and AuRico Gold (AUQ) which closed in the green by 1.71% to $3.56 on Monday.
Additionally, investors will be watching for U.S. economic data that is due this week, including the April non-farm payrolls report, expected to be released on Friday, Reuters reports, noting that Investors will be looking to see how the data will impact the dollar and expectations of an interest rate hike.
Separately, TheStreet Ratings team rates KINROSS GOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate KINROSS GOLD CORP (KGC) a SELL. This is driven by multiple 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. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow and generally disappointing historical performance in the stock itself."