Short Interest in Osisko Development Corp. (NYSE:ODV) Expands By 79.5%

Osisko Development Corp. (NYSE:ODV - Get Free Report) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 523,200 shares, a growth of 79.5% from the April 30th total of 291,500 shares. Approximately 0.5% of the company's stock are short sold. Based on an average trading volume of 483,400 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On Osisko Development

Hedge funds have recently made changes to their positions in the stock. Anson Funds Management LP acquired a new stake in Osisko Development during the 4th quarter valued at $4,667,000. GMT Capital Corp acquired a new position in Osisko Development in the 1st quarter worth $1,213,000. Vestcor Inc bought a new stake in Osisko Development in the 1st quarter valued at approximately $1,118,000. Sprott Inc. grew its position in Osisko Development by 84.9% in the fourth quarter. Sprott Inc. now owns 1,466,468 shares of the company's stock valued at $2,388,000 after purchasing an additional 673,523 shares in the last quarter. Finally, Amitell Capital Pte Ltd acquired a new stake in shares of Osisko Development in the 4th quarter valued at approximately $944,000. Institutional investors own 15.16% of the company's stock.

Osisko Development Stock Performance

ODV remained flat at $2.00 on Wednesday. 354,584 shares of the company were exchanged, compared to its average volume of 271,222. Osisko Development has a 12-month low of $1.16 and a 12-month high of $2.75. The stock has a market cap of $273.31 million, a P/E ratio of -1.10 and a beta of 0.47. The firm has a 50 day moving average of $1.72 and a two-hundred day moving average of $1.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.47 and a quick ratio of 0.43.

Osisko Development (NYSE:ODV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.06) earnings per share (EPS) for the quarter. Osisko Development had a negative return on equity of 11.51% and a negative net margin of 1,817.64%. Research analysts predict that Osisko Development will post -0.16 EPS for the current year.

Analyst Ratings Changes

Separately, Royal Bank of Canada raised shares of Osisko Development from a "hold" rating to a "moderate buy" rating in a report on Monday.

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.