Osisko Development Corp. $ODV Stake Raised by Groupe la Francaise

Groupe la Francaise lifted its holdings in shares of Osisko Development Corp. (NYSE:ODV) by 57.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,200,000 shares of the company’s stock after buying an additional 800,000 shares during the period. Groupe la Francaise’s holdings in Osisko Development were worth $7,109,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Osisko Development during the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in Osisko Development in the fourth quarter worth about $26,000. Purpose Unlimited Inc. bought a new stake in Osisko Development in the fourth quarter worth about $34,000. Engineers Gate Manager LP acquired a new stake in Osisko Development in the 4th quarter valued at about $36,000. Finally, Squarepoint Ops LLC acquired a new stake in Osisko Development in the 3rd quarter valued at about $57,000. 15.16% of the stock is owned by institutional investors.

Osisko Development Trading Up 1.2%

Shares of ODV opened at $2.30 on Friday. The business’s 50-day moving average price is $2.49 and its 200 day moving average price is $3.17. The company has a current ratio of 2.37, a quick ratio of 2.33 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $702.82 million, a P/E ratio of -4.42 and a beta of 0.61. Osisko Development Corp. has a 1-year low of $2.14 and a 1-year high of $4.80.

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

Wall Street Analyst Weigh In

ODV has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a research note on Friday, July 17th. Stifel Nicolaus upgraded shares of Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.