Black Maple Capital Management LP Sells 707,033 Shares of Osisko Development Corp. $ODV

Black Maple Capital Management LP cut its position in shares of Osisko Development Corp. (NYSE:ODV) by 96.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,600 shares of the company’s stock after selling 707,033 shares during the period. Black Maple Capital Management LP’s holdings in Osisko Development were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ODV. Anson Funds Management LP raised its holdings in shares of Osisko Development by 25.1% in the first quarter. Anson Funds Management LP now owns 3,581,267 shares of the company’s stock valued at $5,336,000 after acquiring an additional 718,049 shares in the last quarter. U S Global Investors Inc. raised its holdings in shares of Osisko Development by 150.0% in the 2nd quarter. U S Global Investors Inc. now owns 250,000 shares of the company’s stock valued at $537,000 after purchasing an additional 150,000 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Osisko Development in the 2nd quarter worth approximately $82,000. Quarry LP bought a new position in shares of Osisko Development during the first quarter valued at approximately $447,000. Finally, GMT Capital Corp purchased a new position in Osisko Development during the first quarter valued at approximately $1,213,000. Hedge funds and other institutional investors own 15.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen raised Osisko Development from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Osisko Development in a report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Osisko Development presently has a consensus rating of “Moderate Buy”.

Osisko Development Stock Up 1.1%

ODV stock opened at $4.08 on Friday. The stock has a market capitalization of $1.04 billion, a PE ratio of -3.67 and a beta of 0.66. Osisko Development Corp. has a 52 week low of $1.16 and a 52 week high of $4.21. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $3.38 and a 200 day moving average of $2.82.

Osisko Development (NYSE:ODV) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). The business had revenue of $3.20 million for the quarter, compared to analyst estimates of $0.36 million. Sell-side analysts forecast that Osisko Development Corp. will post -0.16 earnings per share for the current year.

Osisko Development Profile

Osisko Development Corp. acquires, explores, and develops mineral properties in Canada, Mexico, and the United States. It explores for gold; and precious and base metals. The company's flagship asset is the Cariboo Gold Project covering an area of approximately 155,000 hectares consisting of 415 mineral titles located in British Columbia, Canada.