Osisko Development (NYSE:ODV) Trading Down 6.9% – Should You Sell?

Osisko Development Corp. (NYSE:ODV) was down 6.9% on Monday . The company traded as low as $3.44 and last traded at $3.4350. Approximately 288,607 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 851,798 shares. The stock had previously closed at $3.69.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ODV. Royal Bank Of Canada reissued 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 Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Osisko Development Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.31 and a quick ratio of 1.29. The stock has a market capitalization of $899.28 million, a P/E ratio of -3.18 and a beta of 0.66. The stock’s fifty day moving average is $3.41 and its 200-day moving average is $2.95.

Osisko Development (NYSE:ODV) last announced its quarterly earnings results on Friday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). The business had revenue of $3.20 million during the quarter, compared to the consensus estimate of $0.36 million. On average, equities analysts anticipate that Osisko Development Corp. will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Osisko Development

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC acquired a new stake in shares of Osisko Development in the third quarter worth $32,000. SeaBridge Investment Advisors LLC bought a new position in Osisko Development in the 2nd quarter worth $26,000. HM Payson & Co. acquired a new position in Osisko Development during the 3rd quarter worth $42,000. Salem Investment Counselors Inc. bought a new stake in Osisko Development during the second quarter valued at about $30,000. Finally, Squarepoint Ops LLC bought a new stake in Osisko Development during the third quarter valued at about $57,000. Institutional investors and hedge funds 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.