Osisko Development (NYSE:ODV) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Osisko Development (NYSE:ODV) issued its quarterly earnings results on Friday. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12), Zacks reports. The firm had revenue of $3.20 million for the quarter.

Osisko Development Trading Up 2.2%

Shares of ODV traded up $0.07 during trading hours on Friday, reaching $3.02. 638,503 shares of the company traded hands, compared to its average volume of 1,939,278. Osisko Development has a 12 month low of $1.16 and a 12 month high of $3.89. The company’s fifty day moving average price is $3.21 and its two-hundred day moving average price is $2.54. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.01.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ODV. Wall Street Zen upgraded Osisko Development from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Osisko Development has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd raised its holdings in Osisko Development by 210.2% in the second quarter. XTX Topco Ltd now owns 37,955 shares of the company’s stock worth $81,000 after purchasing an additional 25,720 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Osisko Development in the 2nd quarter worth about $212,000. Marshall Wace LLP bought a new position in shares of Osisko Development in the 2nd quarter worth about $258,000. Finally, Raymond James Financial Inc. purchased a new position in Osisko Development during the 2nd quarter valued at about $79,000. 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.