Osisko Development (CVE:ODV) Trading 2.3% Higher - Should You Buy?

Key Points

• Osisko Development Corp. shares increased by 2.3% to C$3.55, with trading volume rising 42% compared to its average session.
• Analysts have offered mixed reviews, with BMO lowering its price target to C$6.00, while Royal Bank of Canada upgraded its rating to "moderate buy" at a C$5.00 target.
• Osisko Development's flagship asset is the Cariboo Gold Project, which spans approximately 155,000 hectares in British Columbia, Canada.

Osisko Development Corp. (CVE:ODV - Get Free Report) was up 2.3% during mid-day trading on Thursday . The stock traded as high as C$3.66 and last traded at C$3.55. Approximately 111,692 shares traded hands during mid-day trading, an increase of 42% from the average daily volume of 78,640 shares. The stock had previously closed at C$3.47.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ODV shares. BMO Capital Markets reduced their price target on shares of Osisko Development from C$7.00 to C$6.00 in a research report on Tuesday, April 29th. Royal Bank Of Canada raised shares of Osisko Development from a "hold" rating to a "moderate buy" rating and set a C$5.00 price target for the company in a research report on Monday, June 2nd. Finally, Stifel Canada raised shares of Osisko Development to a "strong-buy" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Osisko Development has a consensus rating of "Strong Buy" and a consensus target price of C$5.17.

Osisko Development Trading Down 2.9%

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 50 day simple moving average of C$3.17 and a two-hundred day simple moving average of C$2.58. The firm has a market capitalization of C$464.37 million, a P/E ratio of -1.39 and a beta of 1.18.

Osisko Development Company Profile

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.