Osisko Development Corp. $ODV Shares Purchased by Arbiter Partners Capital Management LLC

Arbiter Partners Capital Management LLC lifted its stake in shares of Osisko Development Corp. (NYSE:ODV) by 122.6% during the first quarter, Holdings Channel.com reports. The firm owned 2,087,496 shares of the company’s stock after buying an additional 1,149,642 shares during the period. Osisko Development accounts for approximately 3.9% of Arbiter Partners Capital Management LLC’s holdings, making the stock its 3rd largest position. Arbiter Partners Capital Management LLC’s holdings in Osisko Development were worth $6,784,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Condire Management LP boosted its position in Osisko Development by 75.0% in the 3rd quarter. Condire Management LP now owns 21,964,844 shares of the company’s stock valued at $74,461,000 after buying an additional 9,412,910 shares during the last quarter. Amundi acquired a new position in shares of Osisko Development during the third quarter valued at $16,335,000. Sprott Inc. boosted its holdings in Osisko Development by 1,699.9% in the fourth quarter. Sprott Inc. now owns 4,560,007 shares of the company’s stock valued at $15,482,000 after acquiring an additional 4,306,666 shares during the last quarter. Schroder Investment Management Group acquired a new stake in Osisko Development in the third quarter worth about $13,380,000. Finally, Franklin Resources Inc. increased its position in Osisko Development by 100.3% in the third quarter. Franklin Resources Inc. now owns 5,091,948 shares of the company’s stock worth $16,803,000 after purchasing an additional 2,550,000 shares during the period. 15.16% of the stock is owned by institutional investors.

Osisko Development Stock Performance

Shares of Osisko Development stock opened at $2.30 on Wednesday. The stock’s fifty day simple moving average is $2.60 and its 200 day simple moving average is $3.24. 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 company has a market capitalization of $702.82 million, a PE ratio of -4.42 and a beta of 0.61. Osisko Development Corp. has a 12 month low of $2.14 and a 12 month high of $4.80.

Osisko Development (NYSE:ODV) last posted its earnings results on Monday, May 11th. The company reported ($0.01) earnings per share (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 firm had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $1.68 million. On average, research analysts predict that Osisko Development Corp. will post -0.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ODV. Stifel Nicolaus raised Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Osisko Development currently has an average rating of “Moderate Buy”.

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.