Zacks Research Upgrades Osisko Development (NYSE:OGG) to “Strong-Buy”

Osisko Development (NYSE:OGG) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks reports.

Several other research firms have also recently issued reports on OGG. Stifel Nicolaus raised shares of Osisko Development to a “strong-buy” rating in a research note on Monday, June 29th. Weiss Ratings raised shares of Osisko Development from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Osisko Development Trading Down 0.4%

Osisko Development stock opened at $2.73 on Thursday. The stock has a 50-day moving average price of $2.59 and a 200 day moving average price of $2.90. Osisko Development has a 52 week low of $2.18 and a 52 week high of $3.25. The stock has a market cap of $834.94 million and a PE ratio of -22.75. The company has a current ratio of 3.58, a quick ratio of 3.53 and a debt-to-equity ratio of 0.40.

Hedge Funds Weigh In On Osisko Development

Institutional investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL lifted its position in Osisko Development by 11.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 52,200 shares of the company’s stock worth $182,000 after buying an additional 5,400 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Osisko Development in the 4th quarter valued at about $26,000. Purpose Unlimited Inc. purchased a new stake in Osisko Development in the 4th quarter valued at about $34,000. Integrated Wealth Concepts LLC acquired a new position in shares of Osisko Development during the 2nd quarter valued at about $37,000. Finally, Murphy Pohlad Asset Management LLC purchased a new position in shares of Osisko Development during the 2nd quarter worth about $39,000. 15.16% of the stock is currently owned by institutional investors and hedge funds.

Osisko Development Company Profile

Osisko Development Corp. is a mineral exploration and development company focused primarily on advancing gold projects in North America. The company’s activities include exploration, resource evaluation, mine planning, permitting, project development and, where applicable, the operation of mining assets.

Its flagship asset is the Cariboo Gold Project in central British Columbia, Canada, a district-scale gold project that includes the historic Barkerville mining area and the Cow Mountain, Bonanza Ledge and Island Mountain deposits.