NEW YORK (TheStreet) -- Shares of Gold Fields (GFI) are higher by 6.39% to $4.33 in midday trading on Thursday, as the rally in the price of gold drives some metal and mining stocks into the green today.
The price of the precious metal is gaining as the dollar was weakened by decisions made by the Federal Reserve and the Bank of Japan to not alter either of their currencies, MarketWatch reports.
It had been expected that the Bank of Japan would begin a fresh round of stimulus to weaken the yen and deal with low inflation.
Gold for June delivery is up by 1.28% to $1,266.40 per ounce on the COMEX this afternoon.
The decline in the dollar boosted gold as the metal becomes less expensive to foreign currency holders when the greenback is weak.
It seems unlikely that the Fed will take action on rates while data continues to paint a picture of mixed economy, George Milling-Stanley, head of gold strategy at State Street Global Advisors told MarketWatch.
"In the continued absence of any surprises from policymakers, the gold price could still see further gains in 2016," Milling-Stanley said. Adding that a price of about $1,350 by the end of the year "could be sustainable."
Gold Fields is a Johannesburg, South Africa-based producer of gold and a holder of gold reserves.
Separately, TheStreet Ratings has set a "sell" rating and a score of D on Gold Fields stock. This is driven by multiple 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, generally disappointing historical performance in the stock itself 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.
You can view the full analysis from the report here: GFI