Osisko Development Corp. (NYSE:ODV) Shares Sold by Bastion Asset Management Inc.

Key Points

• Bastion Asset Management Inc. significantly reduced its stake in Osisko Development Corp. by 70.4%, now holding 59,203 shares valued at approximately $88,000.
• Several other large investors acquired new positions in Osisko Development during the fourth quarter, including Anson Funds Management LP, which invested about $4.67 million.
• Analysts have upgraded Osisko Development's stock ratings, with Royal Bank Of Canada changing it from "hold" to "moderate buy" and Stifel Canada giving it a "strong-buy" rating.

Bastion Asset Management Inc. reduced its stake in Osisko Development Corp. (NYSE:ODV - Free Report) by 70.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,203 shares of the company's stock after selling 140,797 shares during the period. Bastion Asset Management Inc.'s holdings in Osisko Development were worth $88,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ODV. Focus Partners Advisor Solutions LLC purchased a new position in Osisko Development during the fourth quarter worth about $62,000. U S Global Investors Inc. bought a new position in shares of Osisko Development in the 1st quarter worth $149,000. Polar Asset Management Partners Inc. bought a new position in shares of Osisko Development during the 4th quarter valued at $196,000. WCG Wealth Advisors LLC bought a new position in shares of Osisko Development during the 4th quarter valued at $201,000. Finally, Amitell Capital Pte Ltd purchased a new stake in Osisko Development during the 4th quarter valued at $944,000. 15.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. National Bankshares restated an "outperform" rating on shares of Osisko Development in a research note on Tuesday, June 24th. Royal Bank Of Canada upgraded shares of Osisko Development from a "hold" rating to a "moderate buy" rating in a research report on Monday, June 2nd. Finally, Stifel Canada upgraded shares of Osisko Development to a "strong-buy" rating in a research report on Tuesday, July 8th.

Osisko Development Price Performance

Shares of NYSE:ODV traded down $0.04 during midday trading on Wednesday, reaching $2.22. 262,376 shares of the company's stock traded hands, compared to its average volume of 426,028. The company has a fifty day simple moving average of $2.19 and a two-hundred day simple moving average of $1.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 0.68. The company has a market cap of $305.76 million, a P/E ratio of -2.70 and a beta of 0.61. Osisko Development Corp. has a 1 year low of $1.16 and a 1 year high of $2.75.

Osisko Development (NYSE:ODV - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.06) earnings per share for the quarter. Equities analysts predict that Osisko Development Corp. will post -0.16 EPS for the current fiscal year.

Osisko Development Profile

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.