Osisko Development (NYSE:OGG) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Osisko Development (NYSE:OGG) announced its quarterly earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01), Zacks reports. Osisko Development had a net margin of 148.74% and a return on equity of 11.53%. The company had revenue of $13.83 million for the quarter.

Osisko Development Price Performance

Shares of OGG stock traded down $0.16 during trading on Thursday, hitting $2.22. The company had a trading volume of 3,225,185 shares, compared to its average volume of 1,866,144. The stock’s 50-day moving average is $2.66 and its two-hundred day moving average is $2.96. The stock has a market capitalization of $619.98 million and a price-to-earnings ratio of -18.50. The company has a quick ratio of 3.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.40. Osisko Development has a 52 week low of $2.18 and a 52 week high of $3.25.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OGG shares. Zacks Research lowered shares of Osisko Development from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Weiss Ratings upgraded shares of Osisko Development from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

About Osisko Development

Osisko Development is a gold-focused mineral exploration and development company. It advances projects from exploration and resource evaluation toward potential mine development, with assets in Canada, the United States and Mexico. The company’s flagship asset is the Cariboo Gold Project in central British Columbia, where it is working to develop a gold mine. Its other principal projects include the San Antonio Gold Project in Sonora, Mexico, and the Tintic Project in Utah, which provide additional opportunities for exploration and development.