NEW YORK (TheStreet) --IAMGOLD Corp. (IAG) stock is up by 3.52% to $1.47 in mid-afternoon trading on Wednesday, after FederalReserve officials announced they would maintain interest rates, which sent gold prices rising.
Gold prices edged up after the Fed decided not to raise interest rates, Bloomberg reports.
"The stance of monetary policy remains accommodative, thereby supporting further improvement in labor market conditions and a return to 2% inflation," the Federal Open Market Committee said in a statement on Wednesday.
Gold for April delivery is up by 0.18% to $1,122.20 per ounce on the COMEX this afternoon.
Based in Toronto, IAMGOLD is a mid-tier mining company.
Separately, 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 articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: IAG