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. 

More from Markets

Here's Why Alphabet, Facebook and Amazon Earnings May Overshadow Tariff Worries

Here's Why Alphabet, Facebook and Amazon Earnings May Overshadow Tariff Worries

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

Don't Panic! The Risk of a Recession This Year Is Low

Don't Panic! The Risk of a Recession This Year Is Low

Even Standing Desk Company Varidesk Is Watching How the Trump Tariffs Play Out

Even Standing Desk Company Varidesk Is Watching How the Trump Tariffs Play Out

State Street Gets Pummeled on Software Deal; Pizza Wars Are Raging -- ICYMI

State Street Gets Pummeled on Software Deal; Pizza Wars Are Raging -- ICYMI