Groupe la Francaise Raises Stock Holdings in Osisko Development Corp. $ODV

Groupe la Francaise raised its holdings in shares of Osisko Development Corp. (NYSE:ODV) by 57.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,200,000 shares of the company’s stock after purchasing an additional 800,000 shares during the quarter. Groupe la Francaise owned 0.72% of Osisko Development worth $7,109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Condire Management LP increased its stake in Osisko Development by 75.0% during the third quarter. Condire Management LP now owns 21,964,844 shares of the company’s stock valued at $74,461,000 after purchasing an additional 9,412,910 shares during the last quarter. Amundi bought a new position in shares of Osisko Development in the 3rd quarter worth about $16,335,000. Sprott Inc. lifted its position in shares of Osisko Development by 1,699.9% in the 4th quarter. Sprott Inc. now owns 4,560,007 shares of the company’s stock worth $15,482,000 after buying an additional 4,306,666 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Osisko Development in the 3rd quarter valued at about $13,380,000. Finally, Anson Funds Management LP boosted its holdings in shares of 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 hedge funds and other institutional investors.

Osisko Development Price Performance

Shares of NYSE ODV opened at $2.30 on Friday. Osisko Development Corp. has a 1-year low of $2.14 and a 1-year high of $4.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.37 and a quick ratio of 2.33. The business’s fifty day moving average price is $2.49 and its two-hundred day moving average price is $3.17. The firm has a market capitalization of $702.82 million, a PE ratio of -4.42 and a beta of 0.61.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ODV. Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research note on Friday, July 17th. Stifel Nicolaus raised shares of Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.