Osisko Development Corp. $ODV Position Cut by Walleye Capital LLC

Key Points

• Walleye Capital LLC cut its Osisko Development position by 63.4% in Q1, selling more than 1.07 million shares and leaving it with 620,146 shares worth about $2.0 million.
• Institutional ownership remains active, with several firms adding stakes, including Condire Management, Sprott, Amundi, Schroder, and Franklin Resources; institutions now hold 15.16% of the company.
• Osisko Development’s shares were trading near $2.30, and the company recently reported a smaller-than-expected quarterly loss of $0.01 per share, though analysts still expect a full-year loss.

Walleye Capital LLC decreased its position in shares of Osisko Development Corp. (NYSE:ODV - Free Report) by 63.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 620,146 shares of the company's stock after selling 1,073,278 shares during the quarter. Walleye Capital LLC owned about 0.20% of Osisko Development worth $2,015,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Condire Management LP increased its holdings in shares of Osisko Development by 75.0% in the 3rd quarter. Condire Management LP now owns 21,964,844 shares of the company's stock worth $74,461,000 after acquiring an additional 9,412,910 shares during the period. Amundi bought a new stake in Osisko Development in the 3rd quarter valued at about $16,335,000. Sprott Inc. boosted its stake in Osisko Development by 1,699.9% during the 4th 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 position in Osisko Development in the 3rd quarter worth about $13,380,000. Finally, Franklin Resources Inc. grew its position in Osisko Development by 100.3% in the 3rd quarter. Franklin Resources Inc. now owns 5,091,948 shares of the company's stock worth $16,803,000 after purchasing an additional 2,550,000 shares during the last quarter. Institutional investors own 15.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Osisko Development in a report on Friday, July 17th. Stifel Nicolaus raised Osisko Development to a "strong-buy" rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Osisko Development Price Performance

Shares of NYSE ODV opened at $2.30 on Friday. Osisko Development Corp. has a fifty-two week low of $2.14 and a fifty-two week high of $4.80. The firm's 50-day simple moving average is $2.56 and its 200 day simple moving average is $3.22. The company has a quick ratio of 2.33, a current ratio of 2.37 and a debt-to-equity ratio of 0.15. The stock has a market cap of $702.82 million, a P/E ratio of -4.42 and a beta of 0.61.

Osisko Development (NYSE:ODV - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $1.59 million during the quarter, compared to the consensus estimate of $1.68 million. Osisko Development had a negative net margin of 192.13% and a negative return on equity of 10.46%. Equities analysts expect that Osisko Development Corp. will post -0.04 EPS for the current year.

About Osisko Development

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.

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