Loading ...Toronto-based Yamana Gold Inc. posted a negative 73 per cent total shareholder return in the past five years — the worst among 17 large companies analyzed in a report released Monday by gold sector investors.
The report pointed a finger at Peter Marrone, who founded Yamana in 2003, and serves as executive chairman and until recently chief executive. The ratio of his ownership stake in his company as compared to his compensation during the past five years was around 0.1, lowest among all executives analyzed.
It marks the inaugural report by the Shareholders Gold Council, which was formed earlier this year with backing from U.S. billionaire John Paulson and other large investors who are upset with gold miners’ share prices that have largely underperformed the price of gold.