Osisko Development (NYSE:ODV) Sets New 1-Year High – Here’s What Happened

Osisko Development Corp. (NYSE:ODV) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.30 and last traded at $4.1950, with a volume of 3650491 shares. The stock had previously closed at $3.86.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research report on Thursday, January 22nd. Royal Bank Of Canada restated an “outperform” rating on shares of Osisko Development in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Osisko Development Stock Performance

The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $3.67 and a 200-day moving average price of $3.36. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -3.78 and a beta of 0.66.

Institutional Trading of Osisko Development

Hedge funds have recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Osisko Development in the fourth quarter valued at about $26,000. Bruce G. Allen Investments LLC purchased a new stake in Osisko Development in the 3rd quarter valued at approximately $32,000. Engineers Gate Manager LP acquired a new position in Osisko Development during the 4th quarter worth approximately $36,000. HM Payson & Co. acquired a new position in Osisko Development during the 3rd quarter worth approximately $42,000. Finally, Norden Group LLC purchased a new position in shares of Osisko Development during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 15.16% of the company’s stock.

About Osisko Development

Osisko Development Corp. is a Canadian mineral exploration and development company focused on advancing a portfolio of high-quality precious and base metal projects in stable jurisdictions. The company’s strategy centers on the acquisition, exploration, and development of gold, zinc and lead deposits that offer the potential for scalable, long-life operations. Headquartered in Montreal, Quebec, Osisko Development operates primarily across Western Canada.

The company’s flagship asset is the Cariboo gold project in central British Columbia, where it is engaged in step-out drilling, resource definition and permitting activities aimed at building a robust mineral inventory.