Barrick Gold Corp. shares took a beating on Nov. 1 after the company reported disappointing earnings and further upward revisions to capital costs at its South American Pascua-Lama project. Following the news, we were watching to see what insiders would do. As it turns out, one has been buying. On Nov. 5, chief financial officer Ammar Al-Joundi bought 5,000 shares between $35.42 and $35.43. We also note in early August when the stock was down, CEO Jamie Sokalsky bought 50,000 shares at $32.59.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
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