Osisko Development (NYSE:ODV) Stock Price Down 1% – What’s Next?

Osisko Development Corp. (NYSE:ODV)’s stock price was down 1% during trading on Monday . The stock traded as low as $3.43 and last traded at $3.4950. Approximately 1,476,293 shares were traded during trading, an increase of 28% from the average daily volume of 1,151,123 shares. The stock had previously closed at $3.53.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ODV shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Osisko Development in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Osisko Development from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Osisko Development presently has an average rating of “Moderate Buy”.

Osisko Development Stock Performance

The company has a 50-day simple moving average of $3.33 and a two-hundred day simple moving average of $2.74. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.31. The firm has a market capitalization of $896.47 million, a P/E ratio of -3.17 and a beta of 0.66.

Osisko Development (NYSE:ODV) last released its earnings results on Friday, November 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). The firm had revenue of $3.20 million during the quarter, compared to the consensus estimate of $0.36 million. As a group, equities analysts forecast that Osisko Development Corp. will post -0.16 EPS for the current year.

Institutional Trading of Osisko Development

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pale Fire Capital SE lifted its position in Osisko Development by 129.1% during the 1st quarter. Pale Fire Capital SE now owns 65,265 shares of the company’s stock valued at $97,000 after acquiring an additional 36,774 shares during the period. Anson Funds Management LP lifted its holdings in shares of Osisko Development by 25.1% during the first quarter. Anson Funds Management LP now owns 3,581,267 shares of the company’s stock valued at $5,336,000 after purchasing an additional 718,049 shares during the last quarter. GMT Capital Corp bought a new stake in shares of Osisko Development in the 1st quarter worth approximately $1,213,000. Quarry LP bought a new stake in shares of Osisko Development in the 1st quarter worth approximately $447,000. Finally, Salem Investment Counselors Inc. bought a new position in Osisko Development during the 2nd quarter valued at approximately $30,000. 15.16% of the stock is owned by hedge funds and other institutional investors.

Osisko Development Company Profile

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.