Osisko Development (NYSE:ODV) Issues Quarterly Earnings Results

Osisko Development (NYSE:ODV) posted its earnings results on Friday. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.07, Zacks reports. The business had revenue of $2.19 million during the quarter, compared to the consensus estimate of $2.19 million.

Osisko Development Stock Performance

Shares of NYSE ODV opened at $2.93 on Friday. 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 business’s 50 day moving average is $3.77 and its two-hundred day moving average is $3.53. The company has a market cap of $890.96 million, a P/E ratio of -3.44 and a beta of 0.55. Osisko Development has a 12 month low of $1.36 and a 12 month high of $4.80.

Institutional Investors Weigh In On Osisko Development

Hedge funds and other institutional investors have recently modified their holdings of the stock. Condire Management LP raised its stake in Osisko Development by 75.0% during the 3rd quarter. Condire Management LP now owns 21,964,844 shares of the company’s stock valued at $74,461,000 after purchasing an additional 9,412,910 shares during the last quarter. Amundi acquired a new stake in Osisko Development in the 3rd quarter worth $16,335,000. Sprott Inc. grew its position in Osisko Development by 1,699.9% in the 4th quarter. Sprott Inc. now owns 4,560,007 shares of the company’s stock worth $15,482,000 after purchasing an additional 4,306,666 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of Osisko Development during the 3rd quarter worth about $13,380,000. Finally, Franklin Resources Inc. raised its position in shares of Osisko Development by 100.3% during the third quarter. Franklin Resources Inc. now owns 5,091,948 shares of the company’s stock valued at $16,803,000 after buying an additional 2,550,000 shares during the last quarter. Institutional investors and hedge funds own 15.16% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

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.