Barrick Gold Corp. blames the company’s lagging share price for the decision to replace chief executive Aaron Regent after three and a half years in the job.
Here’s a look at how Barrick has done versus peers. Has it underperformed? You decide.
Numbers from Scotia Capital show that in the time since Mr. Regent was named to the post, Barrick stock has risen 24 per cent. Among senior gold producers, that’s middle of the pack at best, right about on the average.
AngloGold Ashanti Ltd. is up 43 per cent, Goldcorp Inc. is up 39 per cent, Gold Fields Ltd. is up 56 per cent and Newmont Mining Corp. is up 38 per cent. Kinross Gold Corp. was the only one to trail Barrick, falling a whopping 48 per cent.
Versus the wider gold sector, represented by the NYSE Arca Gold Miners Index, Barrick is once again trailing, but not drastically.
Note: Chart figures reference Barrick’s performance on the NYSE, rather than the TSX. New York is where most of Barrick's peers trade, and where most Barrick trading takes place.