NEW YORK (TheStreet) --Shares of Gold Fields (GFI) are up by 0.28% to $4.10 in early afternoon trading on Wednesday, even as the price of gold declines today, taking some metals and mining stocks down too.
Gold for April delivery is lower by 0.55% to $1,255.80 per ounce on the COMEX this afternoon.
The price of the metal is trading in the red today as investors have been squaring positions ahead of the European Central Bank monetary policy meeting scheduled for this week, the Wall Street Journal reports.
The expectation is that central bank will increase its bond buying program, and push interest rates further into negative territory.
Investors are "squaring their positions and getting out until they see what the ECB has to say," Peter Hug, global trading director at Kitco Metals told the Journal. "Nothing has changed in the scenario that has caused gold to rally over the last couple of months, and people will be buying the dips."
Gold Fields is a Johannesburg, South Africa-based producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa.
Separately, TheStreet Ratings has set a "sell" rating and a score of D on Gold Fields stock. This is driven by a few notable weaknesses, which TheStreet Ratings believes 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 it covers.
The area that we feel has been the company's primary weakness has been its unimpressive growth in net income.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: GFIGFI data by YCharts