Osisko Development (NYSE:ODV) Hits New 12-Month High – Should You Buy?

Osisko Development Corp. (NYSE:ODV)’s share price reached a new 52-week high on Wednesday . The company traded as high as $4.30 and last traded at $4.1950, with a volume of 3650491 shares trading hands. The stock had previously closed at $3.86.

Analysts Set New Price Targets

Several research analysts have issued reports on ODV shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Osisko Development in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Osisko Development Stock Performance

The firm has a fifty day moving average of $3.67 and a 200-day moving average of $3.36. 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 stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -3.78 and a beta of 0.66.

Institutional Investors Weigh In On Osisko Development

Several institutional investors and hedge funds have recently made changes to their positions in ODV. Condire Management LP grew its stake in Osisko Development by 5.2% in the 4th quarter. Condire Management LP now owns 23,112,036 shares of the company’s stock valued at $80,661,000 after acquiring an additional 1,147,192 shares during the last quarter. Anson Funds Management LP lifted its holdings in shares of Osisko Development by 82.6% in the third quarter. Anson Funds Management LP now owns 7,150,761 shares of the company’s stock valued at $24,241,000 after purchasing an additional 3,235,008 shares in the last quarter. Amundi lifted its holdings in shares of Osisko Development by 55.6% in the fourth quarter. Amundi now owns 7,000,000 shares of the company’s stock valued at $24,430,000 after purchasing an additional 2,500,000 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Osisko Development by 100.3% in the third quarter. Franklin Resources Inc. now owns 5,091,948 shares of the company’s stock valued at $16,803,000 after purchasing an additional 2,550,000 shares during the last quarter. Finally, Sprott Inc. increased its stake in shares of Osisko Development by 1,699.9% during 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 in the last quarter. 15.16% of the stock is currently owned by hedge funds and other institutional investors.

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.