NEW YORK (TheStreet) -- Shares of IAMGOLD (IAG - Get Report) finished the day in the red, having traded lower by 4.48% to $3.20 on Tuesday afternoon, as the decline in gold prices weighs on some metals and mining stocks.
Gold for June delivery is down by 0.57% to $1,288.40 per ounce on the COMEX.
The precious metal reversed some of today's earlier gains, this afternoon's downturn ended six consecutive days of wins for the precious metal, MarketWatch reports.
Gold's recent rally has been fueled mostly by a weaker dollar. The greenback was down earlier in the day, but has shaken off those losses.
Assets priced in the dollar tend to rise when the dollar is weak, as they become less expensive to those that hold other currencies.
IAMGOLD is a Toronto-based is a mining company engaged in the exploration, development and production of mineral resource properties across the world.
Separately, TheStreet Ratings has set a "sell" rating and a score of D on IAMGOLD stock. This is driven by some concerns, which TheStreet Ratings believes 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 feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and weak operating cash flow.
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