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$IAG gold (IAG) Stock Rises on Analyst Upgrade, Gold Price Increase

NEW YORK (TheStreet) -- Shares of Iamgold (IAG) rose 5.39% to $1.83 in morning trading Friday after HSBC (HSBC) increased its rating on the gold company to 'overweight' from 'neutral.'

The price of gold futures also increased Friday by 1.16%, or $13.50, to $1,175.

The stock rose Friday despite the company's third-quarter earnings miss on Wednesday. Iamgold broke even on earnings but missed the Capital IQ Consensus Estimate of 4 cents a share. Revenue climbed 16.4% year-over-year to $341.5 million, which surpassed analysts' expectations of $324.58 million.