Groupe la Francaise Invests $3.71 Million in Osisko Development Corp. $OGG

Groupe la Francaise purchased a new position in Osisko Development Corp. (NYSE:OGG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,525,000 shares of the company’s stock, valued at approximately $3,711,000.

Several other institutional investors also recently bought and sold shares of the company. XTX Topco Ltd increased its stake in Osisko Development by 210.2% during the 2nd quarter. XTX Topco Ltd now owns 37,955 shares of the company’s stock valued at $81,000 after purchasing an additional 25,720 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Osisko Development in the second quarter worth approximately $212,000. Marshall Wace LLP bought a new position in shares of Osisko Development in the second quarter worth approximately $258,000. Raymond James Financial Inc. purchased a new stake in shares of Osisko Development during the second quarter valued at approximately $79,000. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Osisko Development during the third quarter valued at approximately $159,000. 15.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OGG has been the subject of a number of recent analyst reports. Stifel Nicolaus upgraded shares of Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. Weiss Ratings upgraded Osisko Development from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy”.

Osisko Development Price Performance

OGG opened at $2.90 on Tuesday. The firm has a 50 day moving average price of $2.53 and a 200-day moving average price of $2.98. Osisko Development Corp. has a twelve month low of $2.18 and a twelve month high of $3.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.58 and a quick ratio of 3.53.

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.