Anson Funds Management LP Purchases 718,049 Shares of Osisko Development Corp. $ODV

Key Points

• Anson Funds Management LP increased its holdings in Osisko Development Corp. by 25.1%, now owning 3,581,267 shares valued at approximately $5.34 million.
• Several institutional investors have recently purchased new positions in Osisko Development, with institutional ownership now at 15.16% of the company's stock.
• Analysts have rated Osisko Development stock favorably, with upgrades including a shift from "sell" to "hold" and multiple "buy" ratings, resulting in an average rating of "Strong Buy."

Anson Funds Management LP boosted its position in shares of Osisko Development Corp. (NYSE:ODV - Free Report) by 25.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,581,267 shares of the company's stock after purchasing an additional 718,049 shares during the quarter. Osisko Development comprises about 0.8% of Anson Funds Management LP's holdings, making the stock its 25th biggest holding. Anson Funds Management LP owned 2.62% of Osisko Development worth $5,336,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Pale Fire Capital SE grew its position in Osisko Development by 129.1% during the 1st quarter. Pale Fire Capital SE now owns 65,265 shares of the company's stock valued at $97,000 after purchasing an additional 36,774 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Osisko Development during the 4th quarter valued at about $62,000. U S Global Investors Inc. purchased a new stake in shares of Osisko Development during the 1st quarter valued at about $149,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Osisko Development during the 4th quarter valued at about $196,000. Finally, WCG Wealth Advisors LLC purchased a new stake in shares of Osisko Development during the 4th quarter valued at about $201,000. 15.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Osisko Development from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. National Bankshares reaffirmed an "outperform" rating on shares of Osisko Development in a report on Tuesday, June 24th. Royal Bank Of Canada raised shares of Osisko Development from a "hold" rating to a "moderate buy" rating in a report on Monday, June 2nd. Finally, Stifel Canada raised shares of Osisko Development to a "strong-buy" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Strong Buy".

Osisko Development Stock Performance

Shares of NYSE:ODV traded down $0.13 during trading on Tuesday, hitting $2.94. The company's stock had a trading volume of 894,989 shares, compared to its average volume of 567,226. The company has a 50-day moving average of $2.58 and a 200-day moving average of $2.05. Osisko Development Corp. has a 12 month low of $1.16 and a 12 month high of $3.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.68 and a quick ratio of 0.62. The firm has a market cap of $406.39 million, a price-to-earnings ratio of -3.59 and a beta of 0.63.

About Osisko Development

Osisko Development Corp. acquires, explores, and develops mineral properties in Canada, Mexico, and the United States. It explores for gold; and precious and base metals. The company's flagship asset is the Cariboo Gold Project covering an area of approximately 155,000 hectares consisting of 415 mineral titles located in British Columbia, Canada.