NEW YORK (TheStreet) -- Shares of Newmont Mining (NEM) were sliding, lower by 2.88% to $23.94 in midday trading Monday, along with other gold related stocks as the precious metal falls to trade in negative territory.
Prices were falling amid financial and economic uncertainty including concerns over the Greek debt crisis, according to Reuters.
Gold futures for August delivery were down 1.54% to $1,183.40 an ounce as of 12:14 p.m. ET today, while spot gold was nearly flat at $1,183.25 an ounce as of 12:19 p.m. ET, according to CNBC.
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, increase in stock price during the past year and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."
Highlights from the analysis by TheStreet Ratings Team goes as follows: