Gold Fields (GFI) Stock Slides Amid Speculation of Interest Rate Hike

NEW YORK (TheStreet) -- Shares of Gold Fields  (GFI) were falling 6.76% to $5.03 in late-afternoon trading on Friday as gold prices declined on renewed speculation that the Federal Reserve will soon increase interest rates.

Gold for December delivery was down 0.62% to $1,333.30 per ounce on the COMEX this afternoon.

The precious metal has been hurt by comments by Federal Reserve Bank of Boston President Eric Rosengren indicating that the central bank might raise interest rates as early as September.

Gold doesn't bear interest and struggles to compete with yield-bearing assets when interest rates are higher. 

Gold Fields is a South African gold miner. 

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.

Gold Fields's weaknesses include its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and feeble growth in its earnings per share.

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

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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