Osisko Development Corp. $ODV Shares Bought by Anson Funds Management LP

Key Points

• Anson Funds Management LP increased its holdings in Osisko Development Corp. by 25.1% during the 1st quarter, bringing their total to approximately 3.58 million shares, valued at around $5.34 million.
• Osisko Development shares have recently seen analyst upgrades, with Stifel Canada rating it a "strong-buy" and Wall Street Zen changing its rating from "sell" to "hold".
• The company has a market capitalization of $359.59 million and recent trading highlights include a one-year low of $1.16 and a high of $2.75.

Anson Funds Management LP raised its stake in shares of Osisko Development Corp. (NYSE:ODV - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 accounts for about 0.8% of Anson Funds Management LP's holdings, making the stock its 29th biggest holding. Anson Funds Management LP owned approximately 2.62% of Osisko Development worth $5,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vestcor Inc bought a new stake in Osisko Development in the first quarter valued at approximately $1,118,000. Bastion Asset Management Inc. bought a new stake in Osisko Development in the fourth quarter valued at approximately $326,000. WCG Wealth Advisors LLC bought a new stake in Osisko Development in the fourth quarter valued at approximately $201,000. Polar Asset Management Partners Inc. bought a new stake in Osisko Development in the fourth quarter valued at approximately $196,000. Finally, U S Global Investors Inc. bought a new stake in Osisko Development in the first quarter valued at approximately $149,000. 15.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on ODV shares. National Bankshares reiterated an "outperform" rating on shares of Osisko Development in a research report 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. Wall Street Zen raised Osisko Development from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Stifel Canada raised Osisko Development to a "strong-buy" rating in a research note 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 stock. Based on data from MarketBeat, Osisko Development currently has a consensus rating of "Strong Buy".

Osisko Development Stock Performance

NYSE:ODV traded down $0.05 during trading hours on Friday, reaching $2.74. The company had a trading volume of 794,630 shares, compared to its average volume of 509,869. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.68 and a quick ratio of 0.62. Osisko Development Corp. has a 1-year low of $1.16 and a 1-year high of $2.90. The business's 50 day moving average price is $2.39 and its 200-day moving average price is $1.92. The firm has a market cap of $377.54 million, a PE ratio of -3.34 and a beta of 0.61.

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.