Groupe la Francaise Acquires Shares of 1,525,000 Osisko Development Corp. $OGG

Groupe la Francaise acquired a new position in Osisko Development Corp. (NYSE:OGG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,525,000 shares of the company’s stock, valued at approximately $3,711,000. Groupe la Francaise owned approximately 0.50% of Osisko Development at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OGG. XTX Topco Ltd increased its position in shares of Osisko Development by 210.2% during the second quarter. XTX Topco Ltd now owns 37,955 shares of the company’s stock valued at $81,000 after buying an additional 25,720 shares during the period. Walleye Capital LLC bought a new position in Osisko Development in the second quarter worth about $212,000. Marshall Wace LLP purchased a new stake in Osisko Development in the second quarter worth about $258,000. Raymond James Financial Inc. purchased a new stake in Osisko Development in the second quarter worth about $79,000. Finally, Gamco Investors INC. ET AL bought a new stake in Osisko Development during the 3rd quarter valued at approximately $159,000. 15.16% of the stock is owned by hedge funds and other institutional investors.

Osisko Development Stock Down 0.3%

OGG stock opened at $2.90 on Tuesday. The company has a current ratio of 3.58, a quick ratio of 3.53 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average price of $2.53 and a 200-day moving average price of $2.98. Osisko Development Corp. has a 52-week low of $2.18 and a 52-week high of $3.25.

Analyst Ratings Changes

OGG has been the topic of a number of research analyst reports. Stifel Nicolaus upgraded Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. Weiss Ratings upgraded Osisko Development from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

About Osisko Development

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.