Gabelli Funds LLC Purchases Shares of 400,000 Osisko Development Corp. $ODV

Gabelli Funds LLC acquired a new stake in Osisko Development Corp. (NYSE:ODV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 400,000 shares of the company’s stock, valued at approximately $1,396,000. Gabelli Funds LLC owned 0.16% of Osisko Development as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Pekin Hardy Strauss Inc. lifted its holdings in shares of Osisko Development by 30.2% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 362,500 shares of the company’s stock valued at $1,265,000 after buying an additional 84,000 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Osisko Development in the 4th quarter valued at about $26,000. Ruffer LLP acquired a new position in shares of Osisko Development in the 4th quarter valued at about $2,638,000. SeaBridge Investment Advisors LLC raised its holdings in Osisko Development by 50.0% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 18,000 shares of the company’s stock worth $63,000 after purchasing an additional 6,000 shares during the period. Finally, Pinnacle Wealth Management Group Inc. raised its holdings in Osisko Development by 110.3% in the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 180,550 shares of the company’s stock worth $630,000 after purchasing an additional 94,700 shares during the period. Institutional investors and hedge funds own 15.16% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a report on Tuesday, April 21st. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Osisko Development Stock Performance

NYSE ODV opened at $2.69 on Friday. The stock has a market capitalization of $818.17 million, a price-to-earnings ratio of -5.16 and a beta of 0.62. Osisko Development Corp. has a twelve month low of $1.82 and a twelve month high of $4.80. The company has a current ratio of 2.37, a quick ratio of 2.33 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $3.24 and a 200 day moving average of $3.52.

Osisko Development (NYSE:ODV) last announced its earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Osisko Development had a negative return on equity of 10.46% and a negative net margin of 192.13%.The business had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $1.68 million. Sell-side analysts anticipate that Osisko Development Corp. will post -0.1 EPS for the current fiscal year.

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.