Osisko Development Corp. (NYSE:ODV) Sees Significant Growth in Short Interest

Osisko Development Corp. (NYSE:ODV) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 12,363,297 shares, a growth of 23.9% from the January 15th total of 9,981,439 shares. Based on an average daily volume of 3,803,799 shares, the short-interest ratio is presently 3.3 days. Currently, 4.8% of the company’s stock are sold short. Currently, 4.8% of the company’s stock are sold short. Based on an average daily volume of 3,803,799 shares, the short-interest ratio is presently 3.3 days.

Institutional Investors Weigh In On Osisko Development

A number of institutional investors have recently added to or reduced their stakes in ODV. Millennium Management LLC grew its holdings in Osisko Development by 128.9% during the fourth quarter. Millennium Management LLC now owns 1,421,075 shares of the company’s stock valued at $4,954,000 after purchasing an additional 800,323 shares during the period. Invenomic Capital Management LP bought a new position in shares of Osisko Development during the 4th quarter worth $7,713,000. Engineers Gate Manager LP purchased a new stake in Osisko Development in the 4th quarter worth about $36,000. Schonfeld Strategic Advisors LLC bought a new stake in Osisko Development in the 4th quarter valued at about $81,000. Finally, Condire Management LP lifted its holdings in Osisko Development by 5.2% during the fourth quarter. Condire Management LP now owns 23,112,036 shares of the company’s stock valued at $80,661,000 after purchasing an additional 1,147,192 shares during the last quarter. 15.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings reaffirmed 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 report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Osisko Development currently has an average rating of “Moderate Buy”.

Osisko Development Stock Up 2.9%

Osisko Development stock traded up $0.11 during trading on Wednesday, hitting $3.67. 1,095,036 shares of the company were exchanged, compared to its average volume of 2,736,238. The company has a current ratio of 1.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $3.67 and its 200 day moving average is $3.31. Osisko Development has a 52 week low of $1.16 and a 52 week high of $4.20. The company has a market capitalization of $945.06 million, a P/E ratio of -3.31 and a beta of 0.66.

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.