Osisko Development (NYSE:OGG) Stock Gets Downgrade from Zacks Research

Osisko Development (NYSE:OGG) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

OGG has been the topic of a number of other research reports. Stifel Nicolaus upgraded Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. Weiss Ratings lowered shares of Osisko Development from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Osisko Development presently has a consensus rating of “Moderate Buy”.

Osisko Development Price Performance

Shares of NYSE:OGG opened at $2.60 on Monday. The company has a quick ratio of 3.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average is $2.78 and its 200-day moving average is $2.76. Osisko Development has a twelve month low of $2.18 and a twelve month high of $3.25. The firm has a market capitalization of $795.18 million and a price-to-earnings ratio of -21.67.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Arbiter Partners Capital Management LLC bought a new stake in Osisko Development during the second quarter valued at $5,320,000. The Manufacturers Life Insurance Company bought a new position in Osisko Development during the second quarter valued at approximately $2,518,000. Engineers Gate Manager LP purchased a new position in Osisko Development in the 2nd quarter worth $143,000. Integrated Wealth Concepts LLC bought a new stake in shares of Osisko Development in the 2nd quarter valued at about $37,000. Finally, Murphy Pohlad Asset Management LLC bought a new stake in Osisko Development in the second quarter valued at approximately $39,000. 15.16% of the stock is owned by institutional investors.

Osisko Development Company Profile

Osisko Development Corp. is a mineral exploration and development company focused primarily on advancing gold projects in North America. The company is developing its mineral assets with the goal of establishing future mining operations and is not primarily a producer of finished gold products.

The company’s flagship asset is the Cariboo Gold Project in central British Columbia, Canada. Cariboo is a historical gold-producing district that includes the Cow Mountain, Island Mountain and Barkerville Mountain areas.