By Steve Gelsi NEW YORK (MarketWatch) -- AuRico Gold Inc. AUQ -3.17% CA:AUQ -3.99% rose 11% in premarket trades on Wednesday after the Toronto-based company agreed to sell for $750 million its Ocampo mine in Mexico and other properties to Minera Frisco SAB MSNFY -0.36% . Analysts at Canaccord Genuity upgraded shares of AuRico to buy from hold and said the transaction will improve the company's balance sheet. "The sale should reduce volatility and increase predictability of quarterly results -- more desirable from a capital markets standpoint," analysts said.

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