For June delivery, gold is declining by 0.14% to $1,251.20 per ounce on the COMEX Monday afternoon.
The yellow metal was lower Monday amid growing expectations that theFederal Reserve will raise interest rates soon, the Wall Street Journal reports.
Gold has declined for the past two weeks on renewed speculation of an interest rate hike as soon as next month.
The non-interest paying metal has difficulty competing with assets that offer a yield when interest rates are increased.
“In the longer term we are not on a massively negative path for gold here because the Fed is only likely to raise rates gradually but in the shorter term a stronger dollar and uncertainty about the hike timing could weigh on gold,” Danske Bank senior analyst Jens Pedersen told Reuters.
Newmont Mining is a Greenwood Village, CO-based mining company focused on the production of and exploration for gold and copper.
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 expanding profit margins.
However, the team also finds weaknesses including disappointing return on equity, weak operating cash flow and feeble growth in the company’s earnings per share.
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 article’s author.