Osisko Development (NYSE:ODV) Stock Price Down 1% – Here’s Why

Osisko Development Corp. (NYSE:ODV)’s stock price fell 1% during mid-day trading on Monday . The company traded as low as $3.43 and last traded at $3.4950. 1,476,293 shares traded hands during trading, an increase of 28% from the average session volume of 1,151,123 shares. The stock had previously closed at $3.53.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ODV shares. Wall Street Zen upgraded shares of Osisko Development from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Osisko Development in a research note 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Osisko Development presently has an average rating of “Moderate Buy”.

Osisko Development Stock Down 1.0%

The company has a market capitalization of $891.37 million, a PE ratio of -3.15 and a beta of 0.69. 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 has a fifty day moving average of $3.32 and a 200 day moving average of $2.72.

Osisko Development (NYSE:ODV) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.12). The firm had revenue of $3.20 million for the quarter, compared to analyst estimates of $0.36 million. Equities research analysts anticipate that Osisko Development Corp. will post -0.16 EPS for the current year.

Institutional Trading of Osisko Development

Large investors have recently modified their holdings of the stock. Anson Funds Management LP increased its stake in Osisko Development by 25.1% in the first quarter. Anson Funds Management LP now owns 3,581,267 shares of the company’s stock valued at $5,336,000 after purchasing an additional 718,049 shares during the last quarter. U S Global Investors Inc. lifted its position in shares of Osisko Development by 150.0% during the 2nd quarter. U S Global Investors Inc. now owns 250,000 shares of the company’s stock worth $537,000 after buying an additional 150,000 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in shares of Osisko Development in the 2nd quarter valued at $82,000. SeaBridge Investment Advisors LLC purchased a new position in shares of Osisko Development in the 2nd quarter valued at $26,000. Finally, Pinnacle Wealth Management Group Inc. purchased a new position in shares of Osisko Development in the 2nd quarter valued at $174,000. Hedge funds and other institutional investors own 15.16% of the company’s stock.

Osisko Development Company Profile

Osisko Development Corp. acquires, explores, and develops mineral properties in Canada, Mexico, and the United States. It explores for gold; and precious and base metals. The company's flagship asset is the Cariboo Gold Project covering an area of approximately 155,000 hectares consisting of 415 mineral titles located in British Columbia, Canada.