Royal Bank Of Canada Forecasts Strong Price Appreciation for Osisko Development (CVE:ODV) Stock

Key Points

• Royal Bank of Canada has raised its price target for Osisko Development from C$5.00 to C$6.00, indicating a potential upside of 36.36% from the previous market close.
• Stifel Canada has upgraded Osisko Development to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy" across analysts.
• As of the latest trading, Osisko Development shares increased by 2.6%, reaching a price of C$4.40 with impressive trading volume.

Osisko Development (CVE:ODV - Free Report) had its price objective upped by Royal Bank Of Canada from C$5.00 to C$6.00 in a research report report published on Wednesday,BayStreet.CA reports.

Separately, Stifel Canada upgraded shares of Osisko Development to a "strong-buy" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Strong Buy" and an average target price of C$6.00.

Osisko Development Stock Performance

Osisko Development stock traded down C$0.03 during trading hours on Wednesday, hitting C$4.25. The company had a trading volume of 120,325 shares, compared to its average volume of 87,748. The firm has a market cap of C$1.01 billion, a PE ratio of -3.83 and a beta of 1.49. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.47 and a quick ratio of 2.81. Osisko Development has a one year low of C$1.64 and a one year high of C$4.47. The firm has a 50-day moving average of C$3.52 and a 200 day moving average of C$2.82.

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.