Osisko Development (NYSE:ODV) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Osisko Development (NYSE:ODV) issued its quarterly earnings results on Friday. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07, Zacks reports. The firm had revenue of $2.19 million for the quarter, compared to the consensus estimate of $2.19 million.

Osisko Development Trading Up 2.3%

Shares of ODV stock opened at $2.93 on Friday. The firm has a fifty day moving average of $3.77 and a 200-day moving average of $3.53. The stock has a market cap of $890.96 million, a price-to-earnings ratio of -3.44 and a beta of 0.55. Osisko Development has a 52-week low of $1.36 and a 52-week high of $4.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.31.

Institutional Trading of Osisko Development

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ODV. Engineers Gate Manager LP bought a new position in Osisko Development during the fourth quarter worth about $36,000. Squarepoint Ops LLC acquired a new stake in Osisko Development during the third quarter valued at approximately $57,000. Integrated Wealth Concepts LLC bought a new stake in shares of Osisko Development in the 3rd quarter valued at approximately $68,000. Jump Financial LLC acquired a new position in shares of Osisko Development in the 4th quarter worth approximately $80,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Osisko Development in the 4th quarter worth approximately $81,000. Institutional investors own 15.16% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Osisko Development in a report on Thursday, January 22nd. One 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

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.