NEW YORK (TheStreet) -- IAMGOLD (IAG - Get Report) stock is rising 0.63% to $3.86 on Thursday afternoon even though gold prices fell after gaining earlier in the day as analysts continue to be optimistic on the precious metal.
Investors believed that policy makers would keep interest rates lower for longer, the Wall Street Journal reports.
Also pushing gold futures up earlier today was the Labor Department releasing initial jobless claims. Layoffs reached 294,000 in the week ended May 7, higher than economists expectations of 270,000.
"There's a risk-off mentality across the spectrum of the markets, which is good for gold in the long run," Bob Haberkorn, senior market strategist at RJO Futures told the Journal.
Despite this bearish sentiment, gold for June delivery is retreating 0.3% to $1,271.70 per ounce this afternoon.
Based in Toronto, IAMGOLD explores for, develops, and operates mining properties in North and South America, and West Africa.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D.
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 article's author.
You can view the full analysis from the report here: IAG