Royal Bank of Canada Has $7.66 Million Stock Holdings in Osisko Development Corp. $ODV

Royal Bank of Canada boosted its stake in shares of Osisko Development Corp. (NYSE:ODV) by 193,823.0% in the first quarter, HoldingsChannel reports. The firm owned 2,356,164 shares of the company’s stock after purchasing an additional 2,354,949 shares during the quarter. Royal Bank of Canada’s holdings in Osisko Development were worth $7,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. XTX Topco Ltd raised its position in shares of Osisko Development by 210.2% in the second quarter. XTX Topco Ltd now owns 37,955 shares of the company’s stock valued at $81,000 after purchasing an additional 25,720 shares during the period. Walleye Capital LLC acquired a new position in Osisko Development in the 2nd quarter valued at about $212,000. Marshall Wace LLP acquired a new position in Osisko Development in the 2nd quarter valued at about $258,000. Raymond James Financial Inc. bought a new position in Osisko Development in the 2nd quarter valued at about $79,000. Finally, Gamco Investors INC. ET AL bought a new position in Osisko Development in the 3rd quarter valued at about $159,000. 15.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ODV. Stifel Nicolaus upgraded Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Osisko Development currently has an average rating of “Moderate Buy”.

Osisko Development Stock Performance

Shares of NYSE:ODV opened at $2.30 on Tuesday. Osisko Development Corp. has a 12-month low of $2.14 and a 12-month high of $4.80. The company’s 50 day moving average price is $2.44 and its two-hundred day moving average price is $3.12. The firm has a market cap of $702.82 million, a PE ratio of -4.42 and a beta of 0.61. The company has a quick ratio of 2.33, a current ratio of 2.37 and a debt-to-equity ratio of 0.15.

Osisko Development (NYSE:ODV) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $1.59 million during the quarter, compared to the consensus estimate of $1.68 million. Osisko Development had a negative net margin of 192.13% and a negative return on equity of 10.46%. Equities research analysts predict that Osisko Development Corp. will post -0.04 earnings per share for the current year.

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.