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Actionable news in NEM: NEWMONT MINING Corp,

Why Newmont Mining (NEM) Stock is Climbing

NEW YORK (TheStreet) -- Shares of Newmont Mining (NEM - Get Report) are higher by 3.18% to $18.52 in early afternoon trading on Tuesday, as some mining and related stocks rally along with the price of gold.

The precious metal is up slightly as expectations are that U.S. interest rates will remain lower for longer. Higher interest rates can weigh on gold as the asset struggles to compete against those that pay interest.

Newmont Mining is a Greenwood Village, CO-based production stage mining company that also explores for and acquires gold and copper properties.

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Gold for December delivery is up by 0.86% to $1,147.40 per ounce this afternoon.

"Evidence from the broader macro space is gradually piling up in gold's favor," UBS analysts said in a report, the Wall Street Journal reports.

However, gold is still dealing with pressure from weak physical demand, the Journal noted.

Separately, TheStreet Ratings team rates NEWMONT MINING CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their...


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