NEW YORK (TheStreet) -- IAMGOLD(IAG) - Get Report shares are tumbling 3.56% to $3.25 on Friday afternoon as gold prices fell on the stronger dollar following Federal Reserve Chair Yellen's comments this afternoon.
Speaking at Harvard University, Yellen said "I think for the Fed to gradually and cautiously increase our overnight interest over time and probably in the coming months, such a move would be appropriate."
Looking ahead, in focus will be economic data and inflation, which will likely be pushed higher given the stabilizing oil prices.
If the economy continues to show improvement, it appears that the Fed could decide to raise rates at its next meeting on June 14 and 15, CNBC reports.
Gold for June delivery is slipping 0.61% to $1,215.20 per ounce on the COMEX this afternoon.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and poor profit margins.
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.
You can view the full analysis from the report here: IAG