Invenomic Capital Management LP Makes New $7.71 Million Investment in Osisko Development Corp. $ODV

Invenomic Capital Management LP purchased a new position in shares of Osisko Development Corp. (NYSE:ODV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,210,147 shares of the company’s stock, valued at approximately $7,713,000. Invenomic Capital Management LP owned approximately 0.86% of Osisko Development as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Condire Management LP lifted its stake in Osisko Development by 5.2% during the fourth quarter. Condire Management LP now owns 23,112,036 shares of the company’s stock worth $80,661,000 after purchasing an additional 1,147,192 shares in the last quarter. Anson Funds Management LP lifted its stake in Osisko Development by 82.6% during the third quarter. Anson Funds Management LP now owns 7,150,761 shares of the company’s stock worth $24,241,000 after purchasing an additional 3,235,008 shares in the last quarter. Amundi lifted its stake in Osisko Development by 55.6% during the fourth quarter. Amundi now owns 7,000,000 shares of the company’s stock worth $24,430,000 after purchasing an additional 2,500,000 shares in the last quarter. Franklin Resources Inc. lifted its stake in Osisko Development by 100.3% during the third quarter. Franklin Resources Inc. now owns 5,091,948 shares of the company’s stock worth $16,803,000 after purchasing an additional 2,550,000 shares in the last quarter. Finally, Sprott Inc. lifted its stake in Osisko Development by 1,699.9% during the fourth 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 in the last quarter. 15.16% of the stock is currently owned by institutional investors and hedge funds.

Osisko Development Stock Performance

NYSE ODV opened at $2.73 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.37 and a quick ratio of 2.33. Osisko Development Corp. has a 1 year low of $1.97 and a 1 year high of $4.80. The company has a market capitalization of $830.36 million, a PE ratio of -5.24 and a beta of 0.58. The company has a fifty day moving average of $3.02 and a two-hundred day moving average of $3.45.

Osisko Development (NYSE:ODV) last announced its earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Osisko Development had a negative net margin of 192.13% and a negative return on equity of 10.46%. The business had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $1.68 million. As a group, analysts expect that Osisko Development Corp. will post -0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a research note on Tuesday, April 21st. One research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Osisko Development 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.