The Globe and Mail reports in its Wednesday edition that George Soros has slashed his investment in Barrick Gold, cashing in on the gold miner's recent meteoric rise. The Globe's Rachelle Younglai writes that Soros Fund Management LLC cut its holdings in Barrick by 94 per cent just months after acquiring the large stake. The fund held 1.07 million shares of the Toronto miner at the end of the second quarter, compared with 19.4 million shares at the end of the first quarter, according to a U.S. filing. The rising price of gold has underpinned Barrick's stock, which has nearly tripled in value to $21.40 (U.S.) this year. The debt-laden company receives regular praise from analysts. The miner has been one of the best-performing stocks on the S&P/TSX composite index in 2016 and is now in a stronger position to weather volatile bullion prices after making costly mistakes during the boom years. When Mr. Soros's investment in Barrick became public in May, the news helped further bolster the miner's shares. During the recent quarter, Mr. Soros also sold shares of SPDR Gold Trust. His position was reduced to 240,000 shares from 1.05 million shares. The price of bullion is in the $1,350 range.