Osisko Development (NYSE:ODV) Releases Earnings Results, Beats Estimates By $0.07 EPS

Osisko Development (NYSE:ODV) released its quarterly earnings data on Friday. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.07, Zacks reports. The firm had revenue of $2.19 million during the quarter, compared to analyst estimates of $2.19 million.

Osisko Development Stock Up 2.3%

Shares of NYSE ODV opened at $2.93 on Friday. The stock has a fifty day moving average price of $3.77 and a 200 day moving average price of $3.53. The company has a current ratio of 1.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25. Osisko Development has a 12-month low of $1.36 and a 12-month high of $4.80. The company has a market cap of $890.96 million, a P/E ratio of -3.44 and a beta of 0.55.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Osisko Development has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Osisko Development

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in shares of Osisko Development during the 4th quarter valued at about $273,000. Marshall Wace LLP purchased a new position in Osisko Development in the 2nd quarter worth approximately $258,000. Dynamic Technology Lab Private Ltd purchased a new position in Osisko Development in the 4th quarter worth approximately $244,000. Walleye Capital LLC acquired a new stake in Osisko Development in the second quarter valued at approximately $212,000. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Osisko Development during the third quarter valued at approximately $159,000. Hedge funds and other 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.