Barrick Gold Corp. is poised to resume its focus on gold after firing Chief Executive Officer Aaron Regent, who failed to boost the share price by expanding into copper with the acquisition of Equinox Minerals Ltd.
Kinross Gold Corp., a Canadian gold producer that has lost almost a third of its value this year, fired Chief Executive Officer Tye Burt and promoted another investment banker, J. Paul Rollinson, to replace him.
Barrick Gold Corp. Chief Executive Officer Jamie Sokalsky makes his public debut tomorrow as head of the world’s biggest gold company battling rising costs, a decline in profit and a sluggish price for the metal that can no longer paper over the industry’s struggles.
Canadian stocks fell as Kinross Gold Corp. plunged after saying it expects to record a goodwill writedown on its Tasiast mine in Africa and banks slipped as Citigroup Inc. reported a decline in profit.
Canadian stocks rose, completing the biggest three-day climb since the beginning of the bull market, as energy and financial shares advanced after the U.S. reported a decline in initial jobless claims.