Renaissance Technologies LLC Raises Position in Osisko Development Corp. $ODV

Renaissance Technologies LLC grew its stake in Osisko Development Corp. (NYSE:ODV) by 1,019.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 459,900 shares of the company’s stock after purchasing an additional 418,800 shares during the period. Renaissance Technologies LLC owned approximately 0.15% of Osisko Development worth $1,495,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ODV. Kohmann Bosshard Financial Services LLC bought a new position in shares of Osisko Development during the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Osisko Development in the fourth quarter worth $26,000. Purpose Unlimited Inc. purchased a new position in Osisko Development during the fourth quarter worth $34,000. Engineers Gate Manager LP purchased a new position in Osisko Development during the fourth quarter worth $36,000. Finally, Squarepoint Ops LLC bought a new position in Osisko Development during the third quarter valued at $57,000. Hedge funds and other institutional investors own 15.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Nicolaus raised shares of Osisko Development to a “strong-buy” rating in a research note on Monday, June 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Osisko Development in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Osisko Development presently has an average rating of “Moderate Buy”.

Osisko Development Trading Up 1.2%

ODV stock opened at $2.30 on Thursday. Osisko Development Corp. has a 12 month low of $2.14 and a 12 month high of $4.80. The firm’s 50-day moving average is $2.42 and its 200 day moving average is $3.10. The company has a market capitalization of $702.82 million, a PE ratio of -4.42 and a beta of 0.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.37 and a quick ratio of 2.33.

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