Osisko Development (NYSE:ODV) Trading Down 9.4% – Here’s Why

Shares of Osisko Development Corp. (NYSE:ODV) traded down 9.4% on Friday . The company traded as low as $3.55 and last traded at $3.5050. 745,504 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,321,300 shares. The stock had previously closed at $3.87.

Analyst Ratings Changes

Several research firms have commented on ODV. Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a research report on Thursday, January 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Osisko Development in a research note on Monday, November 17th. One 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 stock. Based on data from MarketBeat.com, Osisko Development currently has an average rating of “Moderate Buy”.

Osisko Development Stock Performance

The company has a fifty day moving average price of $3.62 and a two-hundred day moving average price of $3.18. The firm has a market cap of $848.14 million, a price-to-earnings ratio of -3.00 and a beta of 0.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.31 and a quick ratio of 1.29.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pinnacle Wealth Management Group Inc. lifted its position in shares of Osisko Development by 5.7% in the 3rd quarter. Pinnacle Wealth Management Group Inc. now owns 85,850 shares of the company’s stock valued at $291,000 after acquiring an additional 4,600 shares in the last quarter. SeaBridge Investment Advisors LLC raised its stake in Osisko Development by 50.0% during the 4th 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 during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Osisko Development in the third quarter valued at $32,000. HM Payson & Co. acquired a new stake in shares of Osisko Development in the third quarter worth $42,000. Finally, Norden Group LLC purchased a new position in shares of Osisko Development during the fourth quarter valued at $55,000. 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.