Osisko Development (NYSE:OGG) Stock Moved Down to Hold by Zacks Research

Osisko Development (NYSE:OGG) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

Several other equities analysts have also recently weighed in on OGG. Weiss Ratings cut Osisko Development from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Stifel Nicolaus upgraded shares of Osisko Development to a “strong-buy” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Osisko Development has a consensus rating of “Moderate Buy”.

Osisko Development Stock Up 1.2%

Osisko Development stock opened at $2.60 on Monday. The company’s 50 day simple moving average is $2.78 and its 200 day simple moving average is $2.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.58 and a quick ratio of 3.53. The firm has a market capitalization of $795.18 million and a price-to-earnings ratio of -21.67. Osisko Development has a fifty-two week low of $2.18 and a fifty-two week high of $3.25.

Hedge Funds Weigh In On Osisko Development

A number of hedge funds have recently bought and sold shares of OGG. Amundi increased its stake in Osisko Development by 15.0% during the 1st quarter. Amundi now owns 8,050,000 shares of the company’s stock worth $26,162,000 after acquiring an additional 1,050,000 shares during the period. Principal Financial Group Inc. raised its stake in Osisko Development by 18.5% during the first quarter. Principal Financial Group Inc. now owns 7,403,436 shares of the company’s stock worth $23,926,000 after acquiring an additional 1,154,800 shares in the last quarter. Anson Funds Management LP lifted its stake 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 purchasing an additional 3,584,791 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Osisko Development by 193,823.0% in the 1st quarter. Royal Bank of Canada now owns 2,356,164 shares of the company’s stock valued at $7,658,000 after acquiring an additional 2,354,949 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Osisko Development during the second quarter valued at about $7,175,000. 15.16% of the stock is owned by institutional investors.

Osisko Development Company Profile

Osisko Development Corp. is a mineral exploration and development company focused primarily on advancing gold projects in North America. The company is developing its mineral assets with the goal of establishing future mining operations and is not primarily a producer of finished gold products.

The company’s flagship asset is the Cariboo Gold Project in central British Columbia, Canada. Cariboo is a historical gold-producing district that includes the Cow Mountain, Island Mountain and Barkerville Mountain areas.