Osisko Development (CVE:ODV) Trading 6.7% Higher – Still a Buy?

Osisko Development Corp. (CVE:ODV)’s share price was up 6.7% during mid-day trading on Tuesday . The stock traded as high as C$5.61 and last traded at C$5.59. Approximately 117,885 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 225,428 shares. The stock had previously closed at C$5.24.

Analyst Ratings Changes

Separately, Royal Bank Of Canada raised their price objective on Osisko Development from C$7.00 to C$9.00 in a research note on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus target price of C$7.50.

Osisko Development Price Performance

The stock has a fifty day moving average price of C$5.01 and a 200-day moving average price of C$4.62. The company has a market cap of C$1.75 billion, a PE ratio of -3.62 and a beta of 1.52. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.47 and a quick ratio of 2.81.

About Osisko Development

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. It also holds a portfolio of marketable securities. Osisko Development Corp. is based in Montréal, Canada.