Osisko Development (NYSE:ODV) Sets New 1-Year High – Should You Buy?

Osisko Development Corp. (NYSE:ODV) reached a new 52-week high on Wednesday . The stock traded as high as $4.30 and last traded at $4.1950, with a volume of 3650491 shares trading hands. The stock had previously closed at $3.86.

Wall Street Analysts Forecast Growth

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

Osisko Development Trading Up 6.0%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.31. The stock has a market cap of $1.38 billion, a P/E ratio of -4.15 and a beta of 0.66. The company has a 50-day simple moving average of $3.70 and a 200-day simple moving average of $3.37.

Hedge Funds Weigh In On Osisko Development

Large investors have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Osisko Development during the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC acquired a new position in Osisko Development during the 3rd quarter worth $32,000. Engineers Gate Manager LP bought a new position in Osisko Development in the 4th quarter valued at $36,000. HM Payson & Co. acquired a new stake in shares of Osisko Development in the 3rd quarter valued at $42,000. Finally, Norden Group LLC bought a new stake in shares of Osisko Development during the fourth quarter worth $55,000. 15.16% of the stock is currently owned by institutional investors and hedge funds.

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.