Osisko Development Corp. (NYSE:ODV) Short Interest Up 23.9% in January

Osisko Development Corp. (NYSE:ODV) saw a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 12,363,297 shares, an increase of 23.9% from the January 15th total of 9,981,439 shares. Based on an average daily trading volume, of 3,803,799 shares, the short-interest ratio is currently 3.3 days. Currently, 4.8% of the company’s stock are short sold. Currently, 4.8% of the company’s stock are short sold. Based on an average daily trading volume, of 3,803,799 shares, the short-interest ratio is currently 3.3 days.

Hedge Funds Weigh In On Osisko Development

A number of large investors have recently modified their holdings of the company. Cardinal Point Capital Management ULC purchased a new stake in Osisko Development in the 2nd quarter valued at $148,000. Pinnacle Wealth Management Group Inc. purchased a new stake in shares of Osisko Development during the 2nd quarter valued at $174,000. Focus Partners Advisor Solutions LLC bought a new stake in Osisko Development during the second quarter worth about $82,000. Pekin Hardy Strauss Inc. grew its position in Osisko Development by 103.2% during the second quarter. Pekin Hardy Strauss Inc. now owns 157,500 shares of the company’s stock valued at $337,000 after acquiring an additional 80,000 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in Osisko Development by 210.2% in the second quarter. XTX Topco Ltd now owns 37,955 shares of the company’s stock worth $81,000 after purchasing an additional 25,720 shares during the last quarter. 15.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ODV has been the topic of a number of research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Osisko Development in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Osisko Development Trading Up 3.6%

Shares of ODV stock traded up $0.13 during mid-day trading on Wednesday, reaching $3.69. 1,004,344 shares of the stock traded hands, compared to its average volume of 2,735,094. The stock’s fifty day simple moving average is $3.67 and its two-hundred day simple moving average is $3.31. The company has a market cap of $951.25 million, a price-to-earnings ratio of -3.32 and a beta of 0.66. Osisko Development has a 1-year low of $1.16 and a 1-year high of $4.20. 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 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.