Osisko Development (NYSE:ODV) Shares Gap Up – What’s Next?

Shares of Osisko Development Corp. (NYSE:ODV) gapped up prior to trading on Tuesday . The stock had previously closed at $3.38, but opened at $3.68. Osisko Development shares last traded at $3.4750, with a volume of 389,479 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ODV shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Osisko Development in a report on Monday, November 17th. Weiss Ratings restated 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 given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Osisko Development Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.31. The stock’s fifty day moving average price is $3.64 and its 200-day moving average price is $3.21. The firm has a market cap of $865.12 million, a PE ratio of -3.02 and a beta of 0.66.

Osisko Development (NYSE:ODV) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). The firm had revenue of $3.20 million for the quarter, compared to the consensus estimate of $0.36 million. As a group, equities analysts forecast that Osisko Development Corp. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in Osisko Development during the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC acquired a new position in shares of Osisko Development during the 3rd quarter worth approximately $32,000. HM Payson & Co. purchased a new stake in Osisko Development in the 3rd quarter valued at approximately $42,000. Norden Group LLC purchased a new stake in Osisko Development in the 4th quarter valued at approximately $55,000. Finally, Squarepoint Ops LLC acquired a new stake in Osisko Development during the 3rd quarter valued at $57,000. Institutional investors and hedge funds 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.