Kinross Gold (KGC) Stock Down on Lower Gold Prices

NEW YORK (TheStreet) -- Shares of Kinross Gold (KGC) were dropping late Wednesday morning as gold prices traded in the red.

For December delivery, gold was lower by 0.63% to $1,364 per ounce on the COMEX this morning.

Gold prices fell from a three-week high reached in yesterday's trading session after the dollar rose due to strong employment data, Reuters reports.

The precious metal is more expensive to foreign currency holders when the greenback is higher.

U.S. private employers added 179,000 jobs in July, topping economists' estimates of 170,000, according to a report by payrolls processor ADP.

Kinross Gold is a Toronto-based gold mining company.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance.

But the team also finds that the company's return on equity has been disappointing.

Recently, 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: KGC

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