Renaissance Technologies LLC Purchases 418,800 Shares of Osisko Development Corp. $ODV

Renaissance Technologies LLC increased its position in shares of Osisko Development Corp. (NYSE:ODV) by 1,019.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 459,900 shares of the company’s stock after buying an additional 418,800 shares during the period. Renaissance Technologies LLC’s holdings in Osisko Development were worth $1,495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ODV. Kohmann Bosshard Financial Services LLC purchased a new stake in Osisko Development in the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Osisko Development during the 4th quarter valued at about $26,000. Purpose Unlimited Inc. bought a new stake in shares of Osisko Development in the 4th quarter valued at about $34,000. Engineers Gate Manager LP bought a new stake in shares of Osisko Development in the 4th quarter valued at about $36,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Osisko Development in the 3rd quarter worth approximately $57,000. 15.16% of the stock is currently owned by institutional investors.

Osisko Development Price Performance

Shares of ODV stock opened at $2.30 on Thursday. The stock’s 50-day moving average is $2.42 and its 200 day moving average is $3.10. Osisko Development Corp. has a 1-year low of $2.14 and a 1-year high of $4.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.37 and a quick ratio of 2.33. The company has a market cap of $702.82 million, a P/E ratio of -4.42 and a beta of 0.61.

Osisko Development (NYSE:ODV) last announced its earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $1.59 million during the quarter, compared to the consensus estimate of $1.68 million. Osisko Development had a negative net margin of 192.13% and a negative return on equity of 10.46%. Research analysts predict that Osisko Development Corp. will post -0.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research note on Friday, July 17th. Stifel Nicolaus raised shares of Osisko Development to a “strong-buy” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Osisko Development Profile

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.