NEW YORK (TheStreet) -- Shares of IAMGOLD Corp. (IAG - Get Report) are dropping by 3.2% to $2.12 on Wednesday morning, as gold prices trade in the red.

For April delivery, gold is down by 0.69% to $1,254.20 per ounce on the COMEX this morning.

The price of the precious metal is being pressured by expectations that the European Central Bank will ease policy this week, Reuters reports.

Investors project that the ECB will reduce its deposit rate by at least 10 basis points and expand its asset-buying program at its Thursday meeting.

Additionally, investors are booking profits in the metal after its recent rally, which reached a 13-month high last week, Reuters noted.

"After days of holding gains and trying higher levels, gold has finally succumbed to some profit taking and moved back towards its recent break out levels," David Govett, head of precious metals at Marex Spectron, told the Wall Street Journal.

Since the beginning of the year, gold has advanced about 18% amid financial market volatility.

IAMGOLD is a Toronto-based mining company with four operating gold mines.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.

This is driven by a few notable weaknesses, which 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 covered.

The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and weak operating cash flow.


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.

You can view the full analysis from the report here: IAG

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