Kinross Gold (KGC) Stock Closed Down on Lower Gold Prices

NEW YORK (TheStreet) -- Shares of Kinross Gold  (KGC) closed lower in Friday's trading session as a drop in gold prices weighed on the Canadian gold miner. 

Gold for December delivery was down 0.66% to $1,341.10 per ounce on the COMEX this afternoon.

The precious metal likely suffered from outflows from gold exchange-traded funds and as traders closed out long positions before the weekend, George Gero, managing director at RBC Wealth Management, told the Wall Street Journal.

"It's a very thin, limited summer audience," Gero noted. "Just a few orders can easily move the market."

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

Kinross Gold's strengths such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance are countered by the fact that the company's return on equity has been disappointing.

You can view the full analysis from the report here: KGC

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 article's author. 

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