Osisko Development Corp. (NYSE:ODV) Sees Significant Increase in Short Interest

Osisko Development Corp. (NYSE:ODV) was the target of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 12,363,297 shares, a growth of 23.9% from the January 15th total of 9,981,439 shares. Currently, 4.8% of the shares of the company are short sold. Based on an average trading volume of 3,803,799 shares, the days-to-cover ratio is presently 3.3 days. Based on an average trading volume of 3,803,799 shares, the days-to-cover ratio is presently 3.3 days. Currently, 4.8% of the shares of the company are short sold.

Analyst Ratings Changes

Several research firms recently weighed in on ODV. Royal Bank Of Canada reiterated an “outperform” rating on shares of Osisko Development in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Osisko Development Price Performance

Shares of ODV traded down $0.07 during trading hours on Monday, reaching $3.69. 3,621,586 shares of the stock traded hands, compared to its average volume of 3,563,632. The company has a market cap of $952.28 million, a P/E ratio of -3.33 and a beta of 0.66. The company has a current ratio of 1.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $3.67 and its two-hundred day moving average price is $3.29. Osisko Development has a 52-week low of $1.16 and a 52-week high of $4.20.

Hedge Funds Weigh In On Osisko Development

A number of hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC grew its position in shares of Osisko Development by 106.0% during the fourth quarter. Squarepoint Ops LLC now owns 34,727 shares of the company’s stock worth $121,000 after purchasing an additional 17,868 shares in the last quarter. Barclays PLC boosted its stake in Osisko Development by 970.8% in the 4th quarter. Barclays PLC now owns 320,484 shares of the company’s stock worth $1,118,000 after purchasing an additional 290,554 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Osisko Development by 175.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,098,021 shares of the company’s stock valued at $3,773,000 after buying an additional 700,000 shares in the last quarter. Walleye Capital LLC grew its holdings in Osisko Development by 62.2% during the 4th quarter. Walleye Capital LLC now owns 1,693,424 shares of the company’s stock valued at $5,910,000 after buying an additional 649,242 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Osisko Development by 65.2% during the fourth quarter. Stifel Financial Corp now owns 84,500 shares of the company’s stock valued at $295,000 after buying an additional 33,348 shares during the last quarter. Institutional investors own 15.16% of the company’s stock.

Osisko Development Company 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.