NEW YORK (TheStreet) -- Shares of Gold Fields (GFI) are down by 6.35% to $3.62 on Wednesday afternoon, as the dip in the price of gold drives some stocks within the metals and mining sector into the red.
A stronger dollar is outweighing the impact of safe haven demand, which saw gold rally on Tuesday in the wake of the terrorist attacks in Belgium.
When the dollar spikes gold can become more expensive to those that hold other currencies as the asset is priced in the greenback.
The dollar popped on comments from some Fed officials who hinted that an interest rate hike could come as early as April, MarketWatch reports.
Gold for June delivery is falling by 2.44% to $1,219.80 per ounce on the COMEX this afternoon.
Some analysts are not surprised that gold is trading in the red today.
"With the long weekend looming and the market overly long, this [drop] is a perfectly understandable and somewhat overdue move, as we see profit-taking and book squaring ahead of Easter," MarexSpectron head of precious metals, David Govett, told the Wall Street Journal.
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 several 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 company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and feeble growth in its earnings per share.
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: GFI