Osisko Development (NYSE:ODV) Announces Earnings Results, Beats Expectations By $0.01 EPS

Osisko Development (NYSE:ODV) issued its quarterly earnings data on Monday. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01, Zacks reports.

Osisko Development Stock Up 2.8%

Shares of Osisko Development stock traded up $0.09 on Monday, hitting $3.37. The company had a trading volume of 1,204,107 shares, compared to its average volume of 2,476,043. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -3.97 and a beta of 0.62. Osisko Development has a 1 year low of $1.74 and a 1 year high of $4.80. The stock has a 50 day moving average of $3.54 and a 200-day moving average of $3.53. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.42 and a current ratio of 1.45.

Institutional Trading of Osisko Development

Institutional investors and hedge funds have recently modified their holdings of the business. Condire Management LP increased its position in Osisko Development by 5.2% in the fourth quarter. Condire Management LP now owns 23,112,036 shares of the company’s stock worth $80,661,000 after buying an additional 1,147,192 shares during the last quarter. Amundi increased its position in Osisko Development by 55.6% in the fourth quarter. Amundi now owns 7,000,000 shares of the company’s stock worth $24,430,000 after buying an additional 2,500,000 shares during the last quarter. Franklin Resources Inc. increased its position in Osisko Development by 100.3% in the third quarter. Franklin Resources Inc. now owns 5,091,948 shares of the company’s stock worth $16,803,000 after buying an additional 2,550,000 shares during the last quarter. Sprott Inc. increased its position in Osisko Development by 1,699.9% in the fourth 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. Finally, Schroder Investment Management Group purchased a new stake in Osisko Development in the third quarter worth $13,380,000. 15.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Osisko Development currently has a consensus rating of “Moderate Buy”.

Osisko Development Company Profile

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.