Osisko Development (NYSE:OGG) Stock Rating Cut to Hold at Zacks Research

Zacks Research lowered shares of Osisko Development (NYSE:OGG) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks reports.

Several other analysts also recently issued reports on the stock. Stifel Nicolaus raised shares of Osisko Development to a “strong-buy” rating in a research report on Monday, June 29th. Weiss Ratings lowered shares of Osisko Development from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Osisko Development Trading Up 1.2%

NYSE OGG opened at $2.60 on Monday. The company has a quick ratio of 3.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.40. Osisko Development has a 52 week low of $2.18 and a 52 week high of $3.25. The business has a 50 day moving average price of $2.78 and a 200-day moving average price of $2.76. The company has a market cap of $795.18 million and a price-to-earnings ratio of -21.67.

Hedge Funds Weigh In On Osisko Development

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Osisko Development in the fourth quarter valued at approximately $26,000. Integrated Wealth Concepts LLC purchased a new position in shares of Osisko Development during the second quarter valued at approximately $37,000. Murphy Pohlad Asset Management LLC purchased a new position in shares of Osisko Development during the second quarter valued at approximately $39,000. Susquehanna Advisors Group Inc. purchased a new position in shares of Osisko Development during the second quarter valued at approximately $74,000. Finally, Engineers Gate Manager LP bought a new stake in Osisko Development during the second quarter worth $143,000. Institutional investors own 15.16% of the company’s stock.

About Osisko Development

Osisko Development Corp. is a mineral exploration and development company focused primarily on advancing gold projects in North America. The company is developing its mineral assets with the goal of establishing future mining operations and is not primarily a producer of finished gold products.

The company’s flagship asset is the Cariboo Gold Project in central British Columbia, Canada. Cariboo is a historical gold-producing district that includes the Cow Mountain, Island Mountain and Barkerville Mountain areas.