Osisko Development (NYSE:ODV) Issues Quarterly Earnings Results

Osisko Development (NYSE:ODV) announced its quarterly earnings data on Monday. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01, Zacks reports.

Osisko Development Price Performance

ODV stock traded up $0.09 during midday trading on Monday, reaching $3.37. The company had a trading volume of 1,204,107 shares, compared to its average volume of 2,476,043. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 1.42. Osisko Development has a 1 year low of $1.74 and a 1 year high of $4.80. The company has a market capitalization of $1.03 billion, a P/E ratio of -3.97 and a beta of 0.62. The firm has a 50-day moving average price of $3.54 and a 200-day moving average price of $3.53.

Hedge Funds Weigh In On Osisko Development

Several institutional investors have recently modified their holdings of the company. Condire Management LP increased its position in shares of Osisko Development by 5.2% during the 4th quarter. Condire Management LP now owns 23,112,036 shares of the company’s stock valued at $80,661,000 after purchasing an additional 1,147,192 shares during the last quarter. Amundi boosted its position in Osisko Development by 55.6% during the 4th quarter. Amundi now owns 7,000,000 shares of the company’s stock valued at $24,430,000 after buying an additional 2,500,000 shares during the period. Franklin Resources Inc. boosted its position in Osisko Development by 100.3% during the 3rd quarter. Franklin Resources Inc. now owns 5,091,948 shares of the company’s stock valued at $16,803,000 after buying an additional 2,550,000 shares during the period. Sprott Inc. boosted its position in Osisko Development by 1,699.9% during the 4th quarter. Sprott Inc. now owns 4,560,007 shares of the company’s stock valued at $15,482,000 after buying an additional 4,306,666 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in Osisko Development during the 3rd quarter valued at $13,380,000. 15.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

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.