Barrick Gold (NYSE:GOLD, TSX:ABX) announced Wednesday that executive chairman John Thornton sold 2,632,153 shares in the company worth just shy of $50m.
According to the release the sale was based on “personal portfolio considerations” and that Thornton would “continue to retain and seek to build on what remains a meaningful equity stake” in the company, the world’s number two miner of the metal.
The shares represented approximately 50% of Thornton’s prior
holding, and Thornton now holds 2,642,127 shares.
Barrick shares closed up 3% on the NYSE at $18.87 per share for a market valuation of $33.4 billion. Shares in the company has gained more than 40% over the last 12 months.