Osisko Development (NYSE:OGG) Posts Earnings Results

Osisko Development (NYSE:OGG) released its quarterly earnings results on Wednesday. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01), Zacks reports. Osisko Development had a return on equity of 11.53% and a net margin of 148.74%. The company had revenue of $13.83 million for the quarter.

Osisko Development Price Performance

Shares of Osisko Development stock traded down $0.10 during midday trading on Thursday, hitting $2.28. 3,575,162 shares of the company were exchanged, compared to its average volume of 1,867,407. The firm has a market cap of $636.74 million and a P/E ratio of -19.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.58 and a quick ratio of 3.53. The firm has a 50 day simple moving average of $2.66 and a 200-day simple moving average of $2.96. Osisko Development has a 52 week low of $2.18 and a 52 week high of $3.25.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OGG shares. Weiss Ratings raised shares of Osisko Development from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Zacks Research downgraded shares of Osisko Development from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

About Osisko Development

Osisko Development is a gold-focused mineral exploration and development company. It advances projects from exploration and resource evaluation toward potential mine development, with assets in Canada, the United States and Mexico. The company’s flagship asset is the Cariboo Gold Project in central British Columbia, where it is working to develop a gold mine. Its other principal projects include the San Antonio Gold Project in Sonora, Mexico, and the Tintic Project in Utah, which provide additional opportunities for exploration and development.