Osisko Development Corp. (NYSE:ODV) Short Interest Update

Osisko Development Corp. (NYSE:ODV) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totaling 5,910,000 shares, a growth of 47.4% from the September 15th total of 4,010,000 shares. Approximately 6.3% of the shares of the company are sold short. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 4.8 days. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 4.8 days. Approximately 6.3% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ODV shares. Wall Street Zen upgraded Osisko Development from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Stifel Canada upgraded Osisko Development to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Osisko Development presently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Osisko Development

A number of institutional investors have recently bought and sold shares of the business. Crown Wealth Group LLC purchased a new stake in Osisko Development in the 3rd quarter worth $61,000. HM Payson & Co. purchased a new stake in Osisko Development in the 3rd quarter worth $42,000. Pinnacle Wealth Management Group Inc. increased its stake in Osisko Development by 5.7% in the 3rd quarter. Pinnacle Wealth Management Group Inc. now owns 85,850 shares of the company’s stock worth $291,000 after buying an additional 4,600 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Osisko Development in the 2nd quarter worth $79,000. Finally, Marshall Wace LLP purchased a new stake in Osisko Development in the 2nd quarter worth $258,000. Hedge funds and other institutional investors own 15.16% of the company’s stock.

Osisko Development Trading Down 6.2%

Shares of ODV stock opened at $3.26 on Friday. Osisko Development has a 52-week low of $1.16 and a 52-week high of $3.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 0.68. The firm has a market capitalization of $780.00 million, a PE ratio of -3.97 and a beta of 0.70. The stock has a fifty day simple moving average of $3.13 and a two-hundred day simple moving average of $2.43.

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.