Yes, you can connect a monitor with this cable. It connects a DisplayPort output (e.g. from a computer) to an HDMI input on the monitor and supports a resolution of up to 1080p at 60 Hz.
This video cable is designed to connect a device with a DisplayPort socket to a screen or projector with an HDMI socket. It is not possible to use this cable to connect an HDMI source to a DisplayPort screen, as it is specifically designed for a DisplayPort to HDMI connection.