Osisko Development (NYSE:ODV) Upgraded to “Moderate Buy” at Royal Bank of Canada

Osisko Development (NYSE:ODV) was upgraded by analysts at Royal Bank of Canada from a “hold” rating to a “moderate buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Osisko Development Trading Up 6.8%

Shares of ODV opened at $1.98 on Monday. The business has a 50-day moving average of $1.71 and a 200 day moving average of $1.62. Osisko Development has a fifty-two week low of $1.16 and a fifty-two week high of $2.75. The firm has a market cap of $269.89 million, a P/E ratio of -1.09 and a beta of 0.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.43 and a current ratio of 0.47.

Osisko Development (NYSE:ODV) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.06) earnings per share for the quarter. Osisko Development had a negative return on equity of 11.51% and a negative net margin of 1,817.64%. As a group, research analysts forecast that Osisko Development will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Focus Partners Advisor Solutions LLC purchased a new position in Osisko Development during the 4th quarter valued at about $62,000. Pale Fire Capital SE grew its holdings in Osisko Development by 129.1% during the 1st quarter. Pale Fire Capital SE now owns 65,265 shares of the company’s stock valued at $97,000 after buying an additional 36,774 shares in the last quarter. U S Global Investors Inc. purchased a new position in Osisko Development during the 1st quarter valued at about $149,000. Polar Asset Management Partners Inc. purchased a new position in Osisko Development during the 4th quarter valued at about $196,000. Finally, WCG Wealth Advisors LLC purchased a new position in Osisko Development during the 4th quarter valued at about $201,000. Hedge funds and other institutional investors own 15.16% of the company’s stock.

Osisko Development Company Profile

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.