The Manufacturers Life Insurance Company Takes Position in Osisko Development Corp. $OGG

The Manufacturers Life Insurance Company purchased a new position in shares of Osisko Development Corp. (NYSE:OGG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,032,133 shares of the company’s stock, valued at approximately $2,518,000.

A number of other hedge funds have also bought and sold shares of OGG. Condire Management LP increased its holdings in Osisko Development by 75.0% in the third quarter. Condire Management LP now owns 21,964,844 shares of the company’s stock valued at $74,461,000 after buying an additional 9,412,910 shares during the last quarter. Amundi bought a new position in Osisko Development during the 2nd quarter worth approximately $20,541,000. Sprott Inc. grew its position in shares of Osisko Development by 1,699.9% in 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 in the last quarter. Schroder Investment Management Group acquired a new position in shares of Osisko Development in the 3rd quarter worth approximately $13,380,000. Finally, Anson Funds Management LP increased its holdings in shares of Osisko Development by 1,292.2% in the 1st quarter. Anson Funds Management LP now owns 3,862,208 shares of the company’s stock valued at $12,555,000 after acquiring an additional 3,584,791 shares during the last quarter. 15.16% of the stock is currently owned by institutional investors and hedge funds.

Osisko Development Stock Performance

OGG stock opened at $2.83 on Monday. The company has a 50-day simple moving average of $2.56 and a 200 day simple moving average of $2.94. The company has a market capitalization of $865.53 million and a P/E ratio of -23.58. The company has a quick ratio of 3.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.40. Osisko Development Corp. has a fifty-two week low of $2.18 and a fifty-two week high of $3.25.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Stifel Nicolaus raised Osisko Development to a “strong-buy” rating in a research report on Monday, June 29th. Weiss Ratings upgraded shares of Osisko Development from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Osisko Development has an average rating of “Buy”.

About Osisko Development

Osisko Development Corp. is a mineral exploration and development company focused primarily on advancing gold projects in North America. The company’s activities include exploration, resource evaluation, mine planning, permitting, project development and, where applicable, the operation of mining assets.

Its flagship asset is the Cariboo Gold Project in central British Columbia, Canada, a district-scale gold project that includes the historic Barkerville mining area and the Cow Mountain, Bonanza Ledge and Island Mountain deposits.