NEW YORK (TheStreet) --Shares of Gold Fields Ltd. (GFI) are higher by 3.86% to $3.77 in mid-morning trading on Tuesday, as the rally in gold prices drives some mining and metals stocks into the green.
Economic and geopolitical concerns are pushing investors toward safe haven assets today.
Gold for June delivery is up by 0.98% to $1,231.20 on the COMEX this morning.
Investors appear to be more cautious today as they await the release of the minutes from the recent Fed open market committee meeting, the Wall Street Journal reports. Gold is also getting a boost on concerns from the current economic situation in Greece.
A leaked phone call held by International Monetary Fund officials is highlighting the tensions between Greece and its international creditors. This summer could see more drama regarding the country's bailout program as a result.
"Gold bulls have exploited the mounting anxieties and... ongoing dollar weakness could be critical for a sharp appreciation back toward $1,250 [an ounce]," FXTM research analyst Lukman Otunuga told the Journal.
Gold Fields is a Johannesburg, South Africa-based gold producer with eight operating mines in Australia, South Africa, Peru and Ghana.
Separately, TheStreet Ratings has set a "sell" rating and a score of D on Gold Fields stock. This is driven by some concerns, 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