Osisko Development (NYSE:ODV) Shares Gap Down – Time to Sell?

by · The Markets Daily

Osisko Development Corp. (NYSE:ODV – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $3.85, but opened at $3.61. Osisko Development shares last traded at $3.57, with a volume of 2,211,283 shares.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ODV shares. Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a report on Thursday, January 22nd. Royal Bank Of Canada restated an “outperform” rating on shares of Osisko Development in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

View Our Latest Analysis on ODV

Osisko Development Trading Up 0.2%

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 firm has a fifty day moving average price of $3.62 and a 200 day moving average price of $3.18. The company has a market cap of $986.65 million, a price-to-earnings ratio of -3.48 and a beta of 0.66.

Osisko Development (NYSE:ODV – Get Free Report) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.15) earnings per share (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 analysts predict that Osisko Development Corp. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. 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. acquired a new position in shares of Osisko Development in the third quarter valued at $42,000. Norden Group LLC bought a new position in shares of Osisko Development in the fourth quarter valued at about $55,000. Squarepoint Ops LLC acquired a new stake in shares of Osisko Development during the 3rd quarter worth about $57,000. Finally, Crown Wealth Group LLC bought a new stake in shares of Osisko Development during the 3rd quarter worth about $61,000. 15.16% of the stock is currently owned by institutional investors.

About Osisko Development

(Get Free Report)

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.

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