John Thornton, Barrick Gold’s (TSX: ABX; NYSE: GOLD) executive chairman, has sold half his stake in the company “due to personal portfolio considerations.”
Thornton sold 2.63 million shares following the publication of the company’s 2019 annual results. The gold major noted that he sold the shares that he had bought using his personal funds and the shares were not subject to holding restrictions.
The company said Thornton “would continue to retain and seek to build on what remains a meaningful equity stake in Barrick” and now holds 2.64 million shares.
Thornton, a U.S. citizen, has been a director of Barrick since February 2012. He served as co-chairman from June 2012 to April 2014, when he was appointed executive chairman.
Over the last year, Barrick’s shares in Toronto traded in a range of $15.73 and $29.94 and closed at $26.68 on April 1.
At press time, the company’s shares were trading at $28.09 per share for a $50-billion market capitalization.
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