Osisko Development (CVE:ODV) Reaches New 1-Year High - Here's What Happened

Key Points

• Osisko Development Corp. shares reached a new 52-week high at C$4.99, with significant trading volume of 86,588 shares.
• Analysts have a consensus rating of "Strong Buy", with Royal Bank of Canada raising their price target from C$5.00 to C$6.00.
• Osisko Development focuses on acquiring and developing mineral properties, with its flagship asset being the Cariboo Gold Project in British Columbia, covering approximately 155,000 hectares.

Shares of Osisko Development Corp. (CVE:ODV - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as C$4.99 and last traded at C$4.99, with a volume of 86588 shares. The stock had previously closed at C$4.72.

Analyst Ratings Changes

ODV has been the subject of several research analyst reports. Stifel Canada raised Osisko Development to a "strong-buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada raised their price target on Osisko Development from C$5.00 to C$6.00 in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Osisko Development presently has an average rating of "Strong Buy" and a consensus price target of C$6.00.

Osisko Development Stock Up 7.2%

The stock has a fifty day moving average of C$3.86 and a two-hundred day moving average of C$3.08. The company has a quick ratio of 2.81, a current ratio of 0.47 and a debt-to-equity ratio of 1.38. The stock has a market cap of C$1.21 billion, a price-to-earnings ratio of -4.56 and a beta of 1.78.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.