Osisko Development (NYSE:ODV) Shares Down 6.9% – Time to Sell?

Osisko Development Corp. (NYSE:ODV) dropped 6.9% on Monday . The stock traded as low as $3.44 and last traded at $3.4350. Approximately 288,607 shares were traded during 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

Several research analysts have commented on ODV shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Osisko Development in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Osisko Development in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Osisko Development Trading Down 4.4%

The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $899.28 million, a price-to-earnings ratio of -3.18 and a beta of 0.66. The business has a 50-day moving average of $3.41 and a two-hundred day moving average of $2.95.

Osisko Development (NYSE:ODV) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.15) EPS 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. Research analysts predict that Osisko Development Corp. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Osisko Development

Several institutional investors and hedge funds have recently bought and sold shares of ODV. Quarry LP acquired a new position in shares of Osisko Development in the 1st quarter valued at $447,000. Anson Funds Management LP increased its stake in Osisko Development by 25.1% in the first quarter. Anson Funds Management LP now owns 3,581,267 shares of the company’s stock valued at $5,336,000 after acquiring an additional 718,049 shares during the period. Salem Investment Counselors Inc. acquired a new position in Osisko Development in the second quarter worth about $30,000. SeaBridge Investment Advisors LLC acquired a new position in Osisko Development in the second quarter worth about $26,000. Finally, U S Global Investors Inc. lifted its stake in Osisko Development by 150.0% during the second quarter. U S Global Investors Inc. now owns 250,000 shares of the company’s stock worth $537,000 after purchasing an additional 150,000 shares during the period. 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.