Osisko Development (NYSE:OGG) Issues Quarterly Earnings Results

Osisko Development (NYSE:OGG) announced its earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01), Zacks reports. Osisko Development had a return on equity of 11.53% and a net margin of 148.74%. The company had revenue of $13.83 million during the quarter.

Osisko Development Trading Down 6.7%

Shares of NYSE OGG traded down $0.16 during midday trading on Thursday, reaching $2.22. 2,308,236 shares of the stock were exchanged, compared to its average volume of 1,856,200. Osisko Development has a 12 month low of $2.18 and a 12 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. The company has a market capitalization of $619.98 million and a price-to-earnings ratio of -18.50. The business has a 50-day simple moving average of $2.66 and a two-hundred day simple moving average of $2.96.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OGG shares. Zacks Research cut Osisko Development from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Weiss Ratings upgraded Osisko Development from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

About Osisko Development

Osisko Development is a gold-focused mineral exploration and development company. It advances projects from exploration and resource evaluation toward potential mine development, with assets in Canada, the United States and Mexico. The company’s flagship asset is the Cariboo Gold Project in central British Columbia, where it is working to develop a gold mine. Its other principal projects include the San Antonio Gold Project in Sonora, Mexico, and the Tintic Project in Utah, which provide additional opportunities for exploration and development.