NEW YORK (TheStreet) -- Shares of IAMGOLD (IAG) were down 2.89% to $2.18 in afternoon trading on Friday, along with other gold-related stocks after spot gold fell to a three week low level as the euro fell against the dollar ahead of the Greek bailout talks this weekend, Reuters reports.
Also, the precious metal prices are lower amid concerns over the longer-term outlook for gold, Reuters added.
Earlier this morning, spot gold hit its lowest level since June 5 at $1,168.25 an ounce.
At last check, spot gold was barely changed at $1,173.31 an ounce, while gold futures for August delivery was up 0.14% to $1,173.40 an ounce as of 2:43 p.m. ET today.
Canada-based IAMGOLD is a mining company with five operating gold mines including a niobium mine, a diamond royalty, and exploration and development projects located in Africa and the Americas.
Separately, TheStreet Ratings team rates IAMGOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate IAMGOLD CORP (IAG) a SELL. This is driven by a few notable weaknesses, 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 and generally disappointing historical performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: