Gabelli Funds LLC Takes Position in Osisko Development Corp. $ODV

Gabelli Funds LLC purchased a new stake in Osisko Development Corp. (NYSE:ODV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 400,000 shares of the company’s stock, valued at approximately $1,396,000.

A number of other large investors have also made changes to their positions in ODV. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Osisko Development in the fourth quarter valued at approximately $26,000. Norden Group LLC purchased a new stake in shares of Osisko Development in the fourth quarter valued at approximately $55,000. Squarepoint Ops LLC purchased a new stake in shares of Osisko Development in the third quarter valued at approximately $57,000. SeaBridge Investment Advisors LLC grew its position in shares of Osisko Development by 50.0% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 18,000 shares of the company’s stock valued at $63,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Osisko Development in the third quarter worth approximately $68,000. 15.16% of the stock is currently owned by hedge funds and other institutional investors.

Osisko Development Stock Down 1.6%

NYSE:ODV opened at $2.69 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.37 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $3.24 and its two-hundred day moving average is $3.52. Osisko Development Corp. has a 52 week low of $1.82 and a 52 week high of $4.80. The stock has a market capitalization of $818.17 million, a price-to-earnings ratio of -5.16 and a beta of 0.62.

Osisko Development (NYSE:ODV) last released its quarterly 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. Osisko Development had a negative return on equity of 10.46% and a negative net margin of 192.13%.The company had revenue of $1.59 million for the quarter, compared to analysts’ expectations of $1.68 million. Research analysts anticipate that Osisko Development Corp. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research report on Tuesday, April 21st. One 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 stock. According to MarketBeat.com, the stock currently has an average 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.