Osisko Development (NYSE:ODV) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Osisko Development (NYSE:ODV) announced its quarterly earnings results on Friday. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07, Zacks reports. The firm had revenue of $2.19 million for the quarter, compared to analysts’ expectations of $2.19 million.

Osisko Development Price Performance

Shares of ODV stock opened at $2.93 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.31 and a quick ratio of 1.29. The company has a market capitalization of $890.96 million, a PE ratio of -3.44 and a beta of 0.55. The firm’s 50-day moving average is $3.77 and its two-hundred day moving average is $3.53. Osisko Development has a 12 month low of $1.36 and a 12 month high of $4.80.

Hedge Funds Weigh In On Osisko Development

A number of hedge funds have recently modified their holdings of ODV. XTX Topco Ltd lifted 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 worth $81,000 after purchasing an additional 25,720 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Osisko Development in the second quarter valued at approximately $212,000. Marshall Wace LLP acquired a new position in shares of Osisko Development in the second quarter valued at approximately $258,000. Raymond James Financial Inc. purchased a new stake in Osisko Development during the 2nd quarter worth approximately $79,000. Finally, Gamco Investors INC. ET AL purchased a new stake in Osisko Development during the 3rd quarter worth approximately $159,000. 15.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate 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.