Osisko Development (NYSE:ODV) Stock Price Down 8.2% – Should You Sell?

Osisko Development Corp. (NYSE:ODV)’s stock price was down 8.2% during mid-day trading on Wednesday . The company traded as low as $3.37 and last traded at $3.3150. Approximately 848,757 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 2,730,369 shares. The stock had previously closed at $3.61.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Osisko Development presently has an average rating of “Moderate Buy”.

Osisko Development Stock Performance

The firm has a market capitalization of $1.01 billion, a PE ratio of -2.99 and a beta of 0.55. The stock has a 50-day moving average price of $3.86 and a 200-day moving average price of $3.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.31 and a quick ratio of 1.29.

Hedge Funds Weigh In On Osisko Development

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd lifted its stake in shares of Osisko Development by 210.2% in the 2nd quarter. XTX Topco Ltd now owns 37,955 shares of the company’s stock valued at $81,000 after purchasing an additional 25,720 shares during the last quarter. WCG Wealth Advisors LLC bought a new stake in shares of Osisko Development in the 2nd quarter worth approximately $264,000. Walleye Capital LLC acquired a new stake in Osisko Development during the second quarter worth $212,000. Marshall Wace LLP bought a new position in Osisko Development during the second quarter worth about $258,000. Finally, Raymond James Financial Inc. bought a new stake in Osisko Development in the second quarter valued at $79,000. Hedge funds and other institutional investors own 15.16% of the company’s stock.

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.