Osisko Development (CVE:ODV) Trading Down 2.6% – Here’s What Happened

Osisko Development Corp. (CVE:ODV) fell 2.6% during trading on Wednesday . The stock traded as low as C$3.27 and last traded at C$3.38. Approximately 58,127 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 175,164 shares. The stock had previously closed at C$3.47.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upgraded shares of Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Buy” and an average price target of C$9.00.

Osisko Development Stock Down 1.1%

The business has a 50-day simple moving average of C$3.81 and a 200-day simple moving average of C$4.56. The company has a debt-to-equity ratio of 15.89, a quick ratio of 2.81 and a current ratio of 2.37. The company has a market cap of C$1.05 billion, a price-to-earnings ratio of -7.04 and a beta of 2.22.

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. It also holds a portfolio of marketable securities. Osisko Development Corp. is based in Montréal, Canada.