Osisko Development Corp. (NYSE:ODV) Short Interest Up 150.9% in May

Osisko Development Corp. (NYSE:ODV) was the recipient of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 17,474,893 shares, a growth of 150.9% from the May 14th total of 6,964,140 shares. Approximately 5.8% of the shares of the company are short sold. Based on an average daily trading volume, of 9,905,996 shares, the days-to-cover ratio is currently 1.8 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Osisko Development in a report on Tuesday, April 21st. 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 stock. According to MarketBeat.com, Osisko Development presently has a consensus rating of “Moderate Buy”.

Osisko Development Price Performance

Shares of ODV traded up $0.10 during trading hours on Friday, hitting $2.60. The stock had a trading volume of 2,120,604 shares, compared to its average volume of 5,719,055. The company’s fifty day moving average is $3.05 and its two-hundred day moving average is $3.46. 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 has a 52 week low of $1.97 and a 52 week high of $4.80. The stock has a market capitalization of $790.75 million, a price-to-earnings ratio of -4.99 and a beta of 0.58.

Osisko Development (NYSE:ODV) last posted its earnings results on Monday, May 11th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $1.68 million. On average, analysts anticipate that Osisko Development will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Osisko Development

A number of hedge funds have recently added to or reduced their stakes in ODV. Condire Management LP grew its holdings in Osisko Development by 75.0% during the 3rd quarter. Condire Management LP now owns 21,964,844 shares of the company’s stock worth $74,461,000 after acquiring an additional 9,412,910 shares during the last quarter. Amundi bought a new stake in Osisko Development during the 3rd quarter worth about $16,335,000. Sprott Inc. grew its holdings in Osisko Development by 1,699.9% during the 4th quarter. Sprott Inc. now owns 4,560,007 shares of the company’s stock worth $15,482,000 after acquiring an additional 4,306,666 shares during the last quarter. Schroder Investment Management Group bought a new stake in Osisko Development during the 3rd quarter worth about $13,380,000. Finally, Anson Funds Management LP grew its holdings in Osisko Development by 1,292.2% during the 1st quarter. Anson Funds Management LP now owns 3,862,208 shares of the company’s stock worth $12,555,000 after acquiring an additional 3,584,791 shares during the last quarter. Institutional investors 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.