Barrick executive chairperson John Thornton has halved his shareholding in the Toronto- and New York-listed gold major, owing to “personal portfolio considerations”.
The company on Wednesday confirmed that Thornton had sold 2 632 153 shares in the company during the permitted open period following the publication of its 2019 year-end results.
Thornton sold Barrick shares that he purchased using his personal funds which were not subject to holding restrictions.
Barrick stated that Thornton confirmed that he would continue to retain and seek to build on what remained a meaningful equity stake in the gold mining company.
Thornton now holds 2 642 127 shares in Barrick.
The major closed at C$26.88 a share on Wednesday – nearly 4% up on the previous day.