Cardinal Point Capital Management ULC Purchases Shares of 69,000 Osisko Development Corp. $ODV

Cardinal Point Capital Management ULC purchased a new stake in shares of Osisko Development Corp. (NYSE:ODV) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 69,000 shares of the company’s stock, valued at approximately $148,000.

Several other hedge funds have also added to or reduced their stakes in the business. U S Global Investors Inc. lifted its holdings in Osisko Development by 150.0% during 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 during the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in Osisko Development during the 2nd quarter valued at $26,000. Salem Investment Counselors Inc. acquired a new stake in Osisko Development during the 2nd quarter valued at $30,000. Anson Funds Management LP lifted its holdings in Osisko Development by 25.1% during the 1st quarter. Anson Funds Management LP now owns 3,581,267 shares of the company’s stock valued at $5,336,000 after purchasing an additional 718,049 shares during the last quarter. Finally, Quarry LP acquired a new stake in Osisko Development during the 1st quarter valued at $447,000. Institutional investors and hedge funds own 15.16% of the company’s stock.

Osisko Development Stock Down 6.2%

Shares of NYSE ODV opened at $3.26 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 0.68. Osisko Development Corp. has a 52 week low of $1.16 and a 52 week high of $3.89. The stock has a market capitalization of $780.00 million, a P/E ratio of -3.97 and a beta of 0.70. The stock’s fifty day moving average is $3.13 and its 200 day moving average is $2.43.

Analyst Ratings Changes

ODV has been the subject of a number of research reports. Stifel Canada raised Osisko Development to a “strong-buy” rating in a report on Tuesday, July 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Osisko Development in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Osisko Development from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Osisko Development presently has a consensus rating of “Moderate Buy”.

About Osisko Development

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.