NEW YORK (TheStreet) --Shares of Gold Fields Ltd. (GFI) are down by 2.02% to $3.39 in mid-afternoon trading on Tuesday afternoon, as some mining and related stocks take a hit due to the decline in the price of gold, which is lower due to the rally in the dollar.
Gold or June delivery is slipping by 1.37% to $1,188.40 per ounce on the COMEX this afternoon. The dollar is up by 0.91%, according to The Wall Street Journal dollar index.
The greenback is at a one month high against a basket of other currencies as strong U.S. data and recent comments made by Fed chair Janet Yellen that reinforce the central bank's tightening bias on monetary policy, Reuters reports.
Additionally, this morning analysts at Deutsche Bank upgraded Gold Fields to "hold" from "sell" citing its more positive view on the gold miner's Ghana assets.
TheStreet Ratings team rates GOLD FIELDS LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOLD FIELDS LTD (GFI) 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, poor profit margins and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: