Cardinal Point Capital Management ULC Buys Shares of 69,000 Osisko Development Corp. $ODV

Cardinal Point Capital Management ULC purchased a new stake in Osisko Development Corp. (NYSE:ODV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 69,000 shares of the company’s stock, valued at approximately $148,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. U S Global Investors Inc. increased its stake in shares of Osisko Development by 150.0% in the 2nd quarter. U S Global Investors Inc. now owns 250,000 shares of the company’s stock valued at $537,000 after acquiring an additional 150,000 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new stake in Osisko Development during the 2nd quarter worth approximately $26,000. Salem Investment Counselors Inc. bought a new stake in Osisko Development during the 2nd quarter worth approximately $30,000. Anson Funds Management LP increased its stake in Osisko Development by 25.1% during the 1st quarter. Anson Funds Management LP now owns 3,581,267 shares of the company’s stock worth $5,336,000 after purchasing an additional 718,049 shares in the last quarter. Finally, Quarry LP acquired a new position in Osisko Development during the 1st quarter worth approximately $447,000. 15.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen raised Osisko Development from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a research report on Wednesday, October 8th. Finally, Stifel Canada raised Osisko Development to a “strong-buy” rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Osisko Development has an average rating of “Moderate Buy”.

Osisko Development Trading Down 6.2%

NYSE ODV opened at $3.26 on Friday. The company has a market cap of $780.00 million, a PE ratio of -3.97 and a beta of 0.70. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.01. Osisko Development Corp. has a 12 month low of $1.16 and a 12 month high of $3.89. The stock has a 50 day moving average of $3.13 and a 200-day moving average of $2.43.

About Osisko Development

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.