Osisko Development (NYSE:ODV) Shares Gap Up – What’s Next?

Osisko Development Corp. (NYSE:ODV)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $2.60, but opened at $2.86. Osisko Development shares last traded at $2.7950, with a volume of 292,820 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Osisko Development Price Performance

The firm’s fifty day moving average price is $3.05 and its 200 day moving average price is $3.46. The firm has a market capitalization of $839.50 million, a PE ratio of -5.30 and a beta of 0.59. The company has a current ratio of 2.37, a quick ratio of 2.33 and a debt-to-equity ratio of 0.15.

Osisko Development (NYSE:ODV) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $1.59 million for the quarter, compared to the consensus estimate of $1.68 million. Osisko Development had a negative net margin of 192.13% and a negative return on equity of 10.46%. As a group, equities analysts forecast that Osisko Development Corp. will post -0.04 earnings per share for the current year.

Institutional Trading of Osisko Development

Large investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL lifted its stake in shares of Osisko Development by 11.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 52,200 shares of the company’s stock valued at $182,000 after purchasing an additional 5,400 shares during the period. Federation des caisses Desjardins du Quebec lifted its stake in shares of Osisko Development by 3.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 164,640 shares of the company’s stock valued at $558,000 after purchasing an additional 5,985 shares during the period. SeaBridge Investment Advisors LLC lifted its stake in shares of Osisko Development by 50.0% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 18,000 shares of the company’s stock valued at $63,000 after purchasing an additional 6,000 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Osisko Development in the 4th quarter valued at $26,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Osisko Development in the 4th quarter valued at $26,000. 15.16% of the stock is owned by hedge funds and other institutional investors.

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.