Osisko Development (NYSE:ODV) Posts Earnings Results, Beats Estimates By $0.01 EPS

Osisko Development (NYSE:ODV) announced its earnings results on Monday. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01, Zacks reports. The company had revenue of $1.59 million for the quarter, compared to analyst estimates of $1.68 million. Osisko Development had a negative return on equity of 12.38% and a negative net margin of 192.13%.

Osisko Development Price Performance

Osisko Development stock traded down $0.01 during mid-day trading on Wednesday, reaching $3.41. 284,339 shares of the company were exchanged, compared to its average volume of 2,438,789. The company has a fifty day simple moving average of $3.47 and a 200-day simple moving average of $3.53. Osisko Development has a 12 month low of $1.74 and a 12 month high of $4.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 1.42. The firm has a market cap of $1.04 billion, a PE ratio of -6.55 and a beta of 0.62.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Osisko Development

Hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its stake in Osisko Development by 65.2% during the 4th quarter. Stifel Financial Corp now owns 84,500 shares of the company’s stock worth $295,000 after acquiring an additional 33,348 shares during the period. Quadrature Capital Ltd bought a new position in Osisko Development during the 4th quarter worth $273,000. Gamco Investors INC. ET AL bought a new position in Osisko Development during the 3rd quarter worth $159,000. Virtu Financial LLC bought a new position in Osisko Development during the 4th quarter worth $130,000. Finally, Squarepoint Ops LLC increased its stake in Osisko Development by 106.0% during the 4th quarter. Squarepoint Ops LLC now owns 34,727 shares of the company’s stock worth $121,000 after acquiring an additional 17,868 shares during the period. Institutional investors own 15.16% of the company’s stock.

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.