Osisko Development (NYSE:ODV) Trading 9.7% Higher – Time to Buy?

Osisko Development Corp. (NYSE:ODV) shares shot up 9.7% during trading on Tuesday . The stock traded as high as $4.26 and last traded at $4.2340. 1,764,204 shares were traded during trading, a decline of 34% from the average session volume of 2,671,389 shares. The stock had previously closed at $3.86.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a research report on Thursday, January 22nd. Royal Bank Of Canada reissued an “outperform” rating on shares of Osisko Development in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Osisko Development presently has a consensus rating of “Moderate Buy”.

Osisko Development Stock Up 9.2%

The business’s fifty day simple moving average is $3.66 and its 200 day simple moving average is $3.34. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -3.80 and a beta of 0.66. The company has a current ratio of 1.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25.

Hedge Funds Weigh In On Osisko Development

Several hedge funds have recently added to or reduced their stakes in ODV. Kohmann Bosshard Financial Services LLC bought a new position in Osisko Development during the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC bought a new position in Osisko Development during the 3rd quarter worth approximately $32,000. Engineers Gate Manager LP acquired a new position in Osisko Development during the fourth quarter valued at approximately $36,000. HM Payson & Co. bought a new stake in Osisko Development in the third quarter valued at approximately $42,000. Finally, Norden Group LLC bought a new stake in Osisko Development in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 15.16% of the company’s stock.

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.