Osisko Development (NYSE:ODV) Shares Gap Up – Still a Buy?

Osisko Development Corp. (NYSE:ODV) shares gapped up before the market opened on Monday . The stock had previously closed at $2.60, but opened at $2.86. Osisko Development shares last traded at $2.7950, with a volume of 292,820 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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. According to MarketBeat, Osisko Development currently has a consensus rating of “Moderate Buy”.

Osisko Development Price Performance

The firm has a market capitalization of $848.65 million, a price-to-earnings ratio of -5.36 and a beta of 0.58. The company has a current ratio of 2.37, a quick ratio of 2.33 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $3.03 and a two-hundred day moving average price of $3.45.

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

Hedge Funds Weigh In On Osisko Development

Institutional investors have recently modified their holdings of the company. Condire Management LP boosted its stake in Osisko Development by 75.0% during the 3rd quarter. Condire Management LP now owns 21,964,844 shares of the company’s stock valued at $74,461,000 after purchasing an additional 9,412,910 shares during the period. Amundi acquired a new stake in shares of Osisko Development in the third quarter valued at approximately $16,335,000. Sprott Inc. increased its stake in shares of Osisko Development by 1,699.9% in the fourth quarter. Sprott Inc. now owns 4,560,007 shares of the company’s stock valued at $15,482,000 after purchasing an additional 4,306,666 shares during the period. Schroder Investment Management Group bought a new stake in shares of Osisko Development during the third quarter valued at approximately $13,380,000. Finally, Anson Funds Management LP raised its holdings in shares of Osisko Development by 1,292.2% during the first quarter. Anson Funds Management LP now owns 3,862,208 shares of the company’s stock valued at $12,555,000 after buying an additional 3,584,791 shares during the last quarter. 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.