Bastion Asset Management Inc. Decreases Position in Osisko Development Corp. (NYSE:ODV)

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. cut its position in Osisko Development Corp. (NYSE:ODV - Free Report) by 70.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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.

Other large investors have also bought and sold shares of the company. Anson Funds Management LP purchased a new position in Osisko Development in the fourth quarter worth about $4,667,000. Polar Asset Management Partners Inc. purchased a new position in Osisko Development in the fourth quarter worth about $196,000. WCG Wealth Advisors LLC purchased a new position in Osisko Development in the fourth quarter worth about $201,000. Amitell Capital Pte Ltd purchased a new position in Osisko Development in the fourth quarter worth about $944,000. Finally, U S Global Investors Inc. purchased a new position in Osisko Development in the first quarter worth about $149,000. 15.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ODV has been the subject of several recent analyst reports. 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. Stifel Canada upgraded shares of Osisko Development to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, National Bankshares reiterated an "outperform" rating on shares of Osisko Development in a research note on Tuesday, June 24th.

Osisko Development Stock Performance

Shares of ODV stock opened at $2.37 on Friday. The company has a 50 day moving average price of $2.17 and a 200-day moving average price of $1.76. Osisko Development Corp. has a 52 week low of $1.16 and a 52 week high of $2.75. The firm has a market capitalization of $326.46 million, a PE ratio of -2.88 and a beta of 0.61. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.01.

Osisko Development (NYSE:ODV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.06) EPS for the quarter. As a group, equities research analysts expect that Osisko Development Corp. will post -0.16 earnings per share for the current year.

Osisko Development Company 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.

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