Osisko Development (CVE:ODV) Sets New 12-Month High on Analyst Upgrade

Key Points

• Osisko Development Corp. reached a new 52-week high with a share price of C$4.45 after the Royal Bank of Canada raised its price target from C$5.00 to C$6.00.
• Stifel Canada has upgraded Osisko Development to a "strong-buy" rating, contributing to the stock's overall average rating of "Strong Buy" and a price target of C$6.00.
• The company, with a market cap of C$1.03 billion, focuses on acquiring, exploring, and developing mineral properties, primarily gold, in areas such as Canada, Mexico, and the United States.

Osisko Development Corp. (CVE:ODV - Get Free Report) shares reached a new 52-week high on Thursday after Royal Bank Of Canada raised their price target on the stock from C$5.00 to C$6.00. The stock traded as high as C$4.45 and last traded at C$4.36, with a volume of 269756 shares traded. The stock had previously closed at C$4.29.

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

Osisko Development Stock Performance

The firm's 50 day moving average price is C$3.54 and its two-hundred day moving average price is C$2.83. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.81 and a current ratio of 0.47. The firm has a market cap of C$1.01 billion, a PE ratio of -3.83 and a beta of 1.49.

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.