Osisko Development Corp. (NYSE:ODV) Short Interest Down 31.4% in December

Osisko Development Corp. (NYSE:ODV) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totaling 10,926,574 shares, a drop of 31.4% from the December 15th total of 15,917,020 shares. Based on an average daily trading volume, of 1,412,398 shares, the short-interest ratio is currently 7.7 days. Currently, 4.3% of the shares of the stock are sold short. Currently, 4.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,412,398 shares, the short-interest ratio is currently 7.7 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ODV shares. Royal Bank Of Canada restated an “outperform” rating on shares of Osisko Development in a research report on Monday, November 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Osisko Development currently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Osisko Development

A number of large investors have recently made changes to their positions in ODV. Pinnacle Wealth Management Group Inc. lifted its position in Osisko Development by 5.7% during the third quarter. Pinnacle Wealth Management Group Inc. now owns 85,850 shares of the company’s stock worth $291,000 after buying an additional 4,600 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Osisko Development in the 3rd quarter worth $32,000. SeaBridge Investment Advisors LLC purchased a new position in shares of Osisko Development during the 2nd quarter worth $26,000. HM Payson & Co. acquired a new position in shares of Osisko Development during the 3rd quarter valued at about $42,000. Finally, Norden Group LLC purchased a new stake in shares of Osisko Development in the fourth quarter valued at about $55,000. 15.16% of the stock is currently owned by hedge funds and other institutional investors.

Osisko Development Price Performance

Shares of Osisko Development stock traded down $0.05 during trading hours on Friday, reaching $3.46. 1,190,318 shares of the company’s stock were exchanged, compared to its average volume of 1,220,110. The business has a fifty day moving average of $3.52 and a two-hundred day moving average of $3.08. The company has a market capitalization of $882.54 million, a P/E ratio of -3.12 and a beta of 0.66. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.25. Osisko Development has a 1 year low of $1.16 and a 1 year high of $4.20.

Osisko Development (NYSE:ODV) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.15) earnings per share 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 analysts’ expectations of $0.36 million. As a group, research analysts predict that Osisko Development will post -0.16 earnings per share for the current fiscal year.

Osisko Development Company Profile

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.