Osisko Development (NYSE:OGG) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Osisko Development (NYSE:OGG) from a hold rating to a strong-buy rating in a research note released on Thursday,Zacks reports.

OGG has been the subject of a number of other research reports. Weiss Ratings upgraded shares of Osisko Development from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. Stifel Nicolaus raised Osisko Development to a “strong-buy” rating in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Osisko Development Stock Down 0.4%

Shares of NYSE OGG opened at $2.73 on Thursday. Osisko Development has a 52-week low of $2.18 and a 52-week high of $3.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.53 and a current ratio of 3.58. The stock has a market cap of $834.94 million and a P/E ratio of -22.75. The firm has a 50 day moving average price of $2.59 and a 200 day moving average price of $2.90.

Institutional Investors Weigh In On Osisko Development

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL boosted its position in Osisko Development by 11.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 52,200 shares of the company’s stock worth $182,000 after acquiring an additional 5,400 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Osisko Development in the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. acquired a new stake in shares of Osisko Development in the fourth quarter valued at approximately $34,000. Integrated Wealth Concepts LLC bought a new stake in shares of Osisko Development in the second quarter worth $37,000. Finally, Murphy Pohlad Asset Management LLC bought a new stake in shares of Osisko Development in the second quarter worth $39,000. Institutional investors and hedge funds own 15.16% of the company’s stock.

About Osisko Development

Osisko Development Corp. is a mineral exploration and development company focused primarily on advancing gold projects in North America. The company’s activities include exploration, resource evaluation, mine planning, permitting, project development and, where applicable, the operation of mining assets.

Its flagship asset is the Cariboo Gold Project in central British Columbia, Canada, a district-scale gold project that includes the historic Barkerville mining area and the Cow Mountain, Bonanza Ledge and Island Mountain deposits.