Osisko Development (NYSE:ODV) Trading Up 3.2% – Should You Buy?

Osisko Development Corp. (NYSE:ODV) was up 3.2% during mid-day trading on Wednesday . The stock traded as high as $1.48 and last traded at $1.47. Approximately 4,296,446 shares changed hands during mid-day trading, an increase of 2,048% from the average daily volume of 200,014 shares. The stock had previously closed at $1.42.

Osisko Development Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.43 and a current ratio of 0.47. The stock has a market cap of $200.13 million, a P/E ratio of -0.81 and a beta of 0.72. The company’s 50 day moving average price is $1.47 and its 200-day moving average price is $1.75.

Hedge Funds Weigh In On Osisko Development

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company bought a new position in Osisko Development during the third quarter valued at about $1,824,000. Jane Street Group LLC bought a new position in Osisko Development during the third quarter worth about $69,000. Sprott Inc. boosted its position in Osisko Development by 84.9% during the fourth quarter. Sprott Inc. now owns 1,466,468 shares of the company’s stock worth $2,388,000 after purchasing an additional 673,523 shares during the period. Townsquare Capital LLC bought a new position in Osisko Development during the third quarter worth about $34,000. Finally, ORG Wealth Partners LLC bought a new position in Osisko Development during the fourth quarter worth about $189,000. Institutional investors own 15.16% of the company’s stock.

About Osisko Development

Osisko Development Corp. acquires, explores, and develops mineral properties in Canada, Mexico, and the United States. It explores for gold; and precious and base metals. The company's flagship asset is the Cariboo Gold Project covering an area of approximately 155,000 hectares consisting of 415 mineral titles located in British Columbia, Canada.