Osisko Development (CVE:ODV) Stock Price Down 2.6% – Here’s Why

Osisko Development Corp. (CVE:ODV) shares traded down 2.6% during mid-day trading on Wednesday . The stock traded as low as C$3.27 and last traded at C$3.38. Approximately 58,127 shares changed hands during trading, a decline of 67% from the average daily volume of 175,164 shares. The stock had previously closed at C$3.47.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus raised Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has an average rating of “Strong Buy” and a consensus price target of C$9.00.

Osisko Development Trading Down 2.6%

The company has a market cap of C$1.03 billion, a price-to-earnings ratio of -6.90 and a beta of 2.22. The company’s fifty day moving average price is C$3.82 and its two-hundred day moving average price is C$4.57. The company has a quick ratio of 2.81, a current ratio of 2.37 and a debt-to-equity ratio of 15.89.

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. It also holds a portfolio of marketable securities. Osisko Development Corp. is based in Montréal, Canada.