NEW YORK (TheStreet) -- Shares of Newmont Mining (NEM) are rising, up 2.57% to $25.12 in late morning trading Monday, along with other gold related stocks as the precious metal rallies to trade in the green.
U.S. gold futures for August delivery were up 0.16% to $1,181.10 an ounce, while spot gold was nearly flat at $1,181.51 an ounce as of 11:19 a.m. ET today.
Gold is in stronger demand during times of political and financial uncertainty, Reuters reports.
However, gains tend to be short-lived, Reuters noted.
Greenwood Village, Colo.-based Newmont Mining is primarily a gold producer with operations and assets in the U.S., Australia, Peru, Indonesia, Ghana, New Zealand and Mexico.
Separately, TheStreet Ratings team rates NEWMONT MINING CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate NEWMONT MINING CORP (NEM) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year."
Highlights from the analysis by TheStreet Ratings Team goes as follows: