NEW YORK (TheStreet) -- IAMGOLD Corp. (IAG - Get Report) stock is increasing by 3.23% to $2.24 in afternoon trading Tuesday after investors turned to gold as a safe haven.

Gold for June delivery is rising 0.91% to $1,230.40 per ounce on the COMEX this afternoon.

Gold prices are gaining because of falling equities and a weaker dollar which are being pressured by weak domestic and European economic data, Reuters reports.

"Today we have weaker stocks, weaker European growth and a German 10-year yield trading below 10 basis points. Greek IMF negotiations and renewed weakness in oil are all adding to the support for gold," Saxo Bank's head of commodities research, Ole Hansen, told Reuters.

Toronto-based IAMGOLD is a gold mining company with operations in Canada, Suriname, Mali and other countries.

Separately, IAMGOLD has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's feeble earnings per share growth, deteriorating net income, disappointing return on equity and weak operating cash flow. 

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

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.