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

Osisko Development Corp. (NYSE:ODV) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 17,474,893 shares, a growth of 150.9% from the May 14th total of 6,964,140 shares. Based on an average daily trading volume, of 9,905,996 shares, the days-to-cover ratio is presently 1.8 days. Currently, 5.8% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Osisko Development

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in Osisko Development in the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Osisko Development in the fourth quarter valued at about $26,000. Purpose Unlimited Inc. purchased a new stake in Osisko Development in the fourth quarter valued at about $34,000. Engineers Gate Manager LP purchased a new stake in Osisko Development in the fourth quarter valued at about $36,000. Finally, Norden Group LLC purchased a new stake in Osisko Development in the fourth quarter valued at about $55,000. 15.16% of the stock is currently owned by hedge funds and other institutional investors.

Osisko Development Stock Up 3.8%

Osisko Development stock traded up $0.10 during midday trading on Friday, reaching $2.60. The company’s stock had a trading volume of 2,120,604 shares, compared to its average volume of 5,719,055. The stock’s 50-day simple moving average is $3.05 and its 200-day simple moving average is $3.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.37 and a quick ratio of 2.33. Osisko Development has a 52-week low of $1.97 and a 52-week high of $4.80. The stock has a market capitalization of $790.75 million, a P/E ratio of -4.99 and a beta of 0.58.

Osisko Development (NYSE:ODV) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Osisko Development had a negative return on equity of 10.46% and a negative net margin of 192.13%.The company had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $1.68 million. On average, sell-side analysts expect that Osisko Development will post -0.04 EPS for the current year.

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.