Osisko Development (NYSE:ODV) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Osisko Development (NYSE:ODV) issued its quarterly earnings results on Friday. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12), Zacks reports. The company had revenue of $3.20 million for the quarter.

Osisko Development Trading Up 2.2%

NYSE ODV traded up $0.07 during trading on Friday, reaching $3.02. 638,503 shares of the stock traded hands, compared to its average volume of 1,939,278. Osisko Development has a fifty-two week low of $1.16 and a fifty-two week high of $3.89. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.01. The firm has a market cap of $722.48 million, a price-to-earnings ratio of -3.68 and a beta of 0.69. The stock’s 50-day moving average price is $3.21 and its 200 day moving average price is $2.54.

Wall Street Analyst Weigh In

Several research firms have recently commented on ODV. Wall Street Zen raised Osisko Development from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Osisko Development in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODV. Marshall Wace LLP acquired a new position in Osisko Development in the second quarter valued at about $258,000. Walleye Capital LLC acquired a new stake in Osisko Development during the 2nd quarter worth approximately $212,000. XTX Topco Ltd increased its position in shares of Osisko Development by 210.2% during the second quarter. XTX Topco Ltd now owns 37,955 shares of the company’s stock worth $81,000 after acquiring an additional 25,720 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Osisko Development in the 2nd quarter worth $79,000. 15.16% of the stock is currently owned by institutional investors.

Osisko Development Company Profile

Osisko Development Corp. acquires, explores, and develops mineral properties in Canada, Mexico, and the United States. It explores for gold; and precious and base metals. The company's flagship asset is the Cariboo Gold Project covering an area of approximately 155,000 hectares consisting of 415 mineral titles located in British Columbia, Canada.