NEW YORK (TheStreet) -- Shares of Kinross Gold Corp (KGC) are gaining, higher by 1.38% to $2.57 in afternoon trading Wednesday, as gold prices rally on a softer dollar, settling at a one month high, according to Reuters.
The price of commodities dominated by the greenback increase when the currency is weaker, Reuters added.
Gold prices are higher today amid uncertainty over the impact of the Federal Reserve's interest rate policy, Reuters noted.
U.S. retail sales for April were unchanged, suggesting the economy struggled to rebound after a weak first quarter, Reuters reports.
Spot gold hit a one-month high level of $1,218 an ounce following the release of disappointing U.S. data, and was last trading at $1,214.23 an ounce as of 2:38 p.m. ET today.
U.S. gold futures for June delivery settled at $1,218.20 an ounce, its highest level since early April, and was trading up 1.84% to $1,214.30 an ounce as of 2:28 p.m. ET.
Canada-based Kinross is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties.
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 several 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 and generally disappointing historical performance in the stock itself."