Osisko Development (NYSE:ODV) Shares Gap Down – What’s Next?

Osisko Development Corp. (NYSE:ODV) shares gapped down prior to trading on Tuesday . The stock had previously closed at $3.85, but opened at $3.61. Osisko Development shares last traded at $3.57, with a volume of 2,211,283 shares traded.

Analyst Ratings Changes

ODV has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research note on Thursday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Osisko Development in a research report on Monday, November 17th. One 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Osisko Development Trading Down 2.5%

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.31 and a quick ratio of 1.29. The company has a market cap of $957.83 million, a P/E ratio of -3.38 and a beta of 0.66. The stock’s 50-day moving average is $3.58 and its two-hundred day moving average is $3.16.

Osisko Development (NYSE:ODV) last issued its quarterly earnings data on Friday, November 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.12). The company had revenue of $3.20 million during the quarter, compared to the consensus estimate of $0.36 million. As a group, equities research analysts predict that Osisko Development Corp. will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of Osisko Development

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pinnacle Wealth Management Group Inc. grew its holdings in Osisko Development by 5.7% during the 3rd quarter. Pinnacle Wealth Management Group Inc. now owns 85,850 shares of the company’s stock valued at $291,000 after buying an additional 4,600 shares in the last quarter. SeaBridge Investment Advisors LLC increased its position in Osisko Development by 50.0% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 18,000 shares of the company’s stock worth $63,000 after purchasing an additional 6,000 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Osisko Development during the third quarter valued at $32,000. HM Payson & Co. bought a new position in Osisko Development during the third quarter valued at $42,000. Finally, Norden Group LLC purchased a new position in shares of Osisko Development in the 4th quarter worth $55,000. 15.16% of the stock is owned by hedge funds and other institutional investors.

About Osisko Development

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.