Osisko Development (NYSE:ODV) Trading 9.7% Higher – What’s Next?

Osisko Development Corp. (NYSE:ODV)’s share price was up 9.7% during trading on Tuesday . The company traded as high as $4.26 and last traded at $4.2340. Approximately 1,764,204 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 2,671,389 shares. The stock had previously closed at $3.86.

Analyst Ratings Changes

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

Osisko Development Price Performance

The business’s 50 day moving average price is $3.68 and its 200-day moving average price is $3.36. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.38 billion, a PE ratio of -4.15 and a beta of 0.66.

Institutional Trading of Osisko Development

Several large investors have recently modified their holdings of ODV. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Osisko Development in the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new stake in Osisko Development during the 3rd quarter worth approximately $32,000. Engineers Gate Manager LP acquired a new position in shares of Osisko Development in the 4th quarter valued at approximately $36,000. HM Payson & Co. acquired a new position in shares of Osisko Development in the 3rd quarter valued at approximately $42,000. Finally, Norden Group LLC purchased a new position in shares of Osisko Development during the 4th quarter valued at approximately $55,000. 15.16% of the stock is currently owned by institutional investors and hedge funds.

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.