Amundi Acquires New Position in Osisko Development Corp. $OGG

Amundi purchased a new stake in shares of Osisko Development Corp. (NYSE:OGG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,350,000 shares of the company’s stock, valued at approximately $20,541,000. Amundi owned approximately 2.73% of Osisko Development as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in Osisko Development in the fourth quarter worth approximately $26,000. Purpose Unlimited Inc. bought a new position in Osisko Development during the fourth quarter valued at approximately $34,000. Engineers Gate Manager LP acquired a new stake in Osisko Development in the fourth quarter valued at approximately $36,000. Squarepoint Ops LLC acquired a new stake in Osisko Development in the third quarter valued at approximately $57,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Osisko Development in the third quarter valued at approximately $68,000. 15.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Osisko Development from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, September 1st. Stifel Nicolaus upgraded shares of Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Osisko Development Price Performance

Shares of OGG opened at $2.83 on Friday. The stock’s 50-day moving average price is $2.56 and its 200 day moving average price is $2.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.53 and a current ratio of 3.58. Osisko Development Corp. has a 12-month low of $2.18 and a 12-month high of $3.25.

Osisko Development Company Profile

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.