Osisko Development Corp. (NYSE:ODV) Short Interest Up 150.9% in May

Osisko Development Corp. (NYSE:ODV) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 17,474,893 shares, a growth of 150.9% from the May 14th total of 6,964,140 shares. Currently, 5.8% of the company’s stock are sold short. Based on an average trading volume of 9,905,996 shares, the days-to-cover ratio is presently 1.8 days.

Hedge Funds Weigh In On Osisko Development

Several large investors have recently bought and sold shares of ODV. Condire Management LP increased its holdings in Osisko Development by 75.0% in the 3rd quarter. Condire Management LP now owns 21,964,844 shares of the company’s stock valued at $74,461,000 after buying an additional 9,412,910 shares during the period. Amundi bought a new stake in Osisko Development in the 3rd quarter valued at $16,335,000. Sprott Inc. increased its holdings in Osisko Development by 1,699.9% in the 4th quarter. Sprott Inc. now owns 4,560,007 shares of the company’s stock valued at $15,482,000 after buying an additional 4,306,666 shares during the period. Schroder Investment Management Group bought a new stake in Osisko Development in the 3rd quarter valued at $13,380,000. Finally, Anson Funds Management LP increased its holdings in Osisko Development by 1,292.2% in the 1st quarter. Anson Funds Management LP now owns 3,862,208 shares of the company’s stock valued at $12,555,000 after buying an additional 3,584,791 shares during the period. 15.16% of the stock is currently owned by institutional investors and hedge funds.

Osisko Development Stock Performance

Shares of Osisko Development stock traded up $0.10 on Friday, reaching $2.60. The stock had a trading volume of 2,120,604 shares, compared to its average volume of 5,719,055. The business’s 50-day moving average price is $3.05 and its two-hundred day moving average price is $3.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.33 and a current ratio of 2.37. Osisko Development has a fifty-two week low of $1.97 and a fifty-two week high of $4.80. The stock has a market cap of $790.75 million, a P/E ratio of -4.99 and a beta of 0.58.

Osisko Development (NYSE:ODV) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $1.68 million. Osisko Development had a negative net margin of 192.13% and a negative return on equity of 10.46%. On average, sell-side analysts forecast that Osisko Development will post -0.04 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a research note on Tuesday, April 21st. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.