FP says Kinross, others take heat for share performance
The Financial Post reports in its Tuesday edition that Christian Godin, who heads the Shareholders Gold Council, wants to expose gold miners whose top executives fail to show significant share ownership in their companies. The Post's Gabriel Friedman quotes Mr. Godin saying, "My personal opinion is that investors are concerned with the fact that in too many cases, there's not enough skin in the game." The gold council, set up by U.S. billionaire John Paulson, is also concerned with miners whose top executives hold relatively few shares, putting them at odds with ordinary shareholders. The gold council analyzed 17 gold companies which were selected based on their market capitalization. The survey covered the period from Nov. 15, 2014, to Nov. 15, 2018. Kinross Gold delivered a negative 45-per-cent return during the five-year period. Its chief executive officer and chairman both ranked at or near the bottom on the ownership to compensation ratio. The report analyzed 17 companies' five-year performance and seven companies -- all of them Canadian. In addition to Kinross, Alamos Gold, Goldcorp, Iamgold, Barrick Gold and Wheaton Precious Metals also underperformed gold, which fell 8 per cent during the period. © 2018 Canjex Publishing Ltd.
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