Osisko Development (NYSE:ODV) Sees Strong Trading Volume - Here's What Happened

Key Points

• Osisko Development Corp. experienced a significant increase in trading volume, with 1,818,256 shares traded on Monday, marking a 190% rise from the previous session.
• Analyst ratings for Osisko Development are mixed, with one "Strong Buy," one "Buy," and one "Sell" rating, resulting in an average rating of "Moderate Buy" currently.
• Several institutional investors have increased their stakes in Osisko Development during the second quarter, with hedge funds and other institutions now owning 15.16% of the company's stock.

Osisko Development Corp. (NYSE:ODV - Get Free Report) shares saw strong trading volume on Monday . 1,818,256 shares changed hands during trading, an increase of 190% from the previous session's volume of 628,046 shares.The stock last traded at $3.58 and had previously closed at $3.39.

Analyst Ratings Changes

Several research firms have recently issued reports on ODV. National Bankshares reaffirmed an "outperform" rating on shares of Osisko Development in a research note on Tuesday, June 24th. Stifel Canada raised Osisko Development to a "strong-buy" rating in a research note on Tuesday, July 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Osisko Development in a research report on Saturday, September 27th. Finally, Wall Street Zen upgraded Osisko Development from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Osisko Development Stock Up 7.4%

The company's fifty day simple moving average is $2.79 and its 200 day simple moving average is $2.23. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Osisko Development

A number of large investors have recently added to or reduced their stakes in ODV. SeaBridge Investment Advisors LLC bought a new stake in Osisko Development during the second quarter worth about $26,000. Salem Investment Counselors Inc. purchased a new position in shares of Osisko Development during the second quarter worth approximately $30,000. Raymond James Financial Inc. bought a new stake in shares of Osisko Development in the 2nd quarter worth approximately $79,000. XTX Topco Ltd boosted its holdings in Osisko Development by 210.2% during the 2nd quarter. XTX Topco Ltd now owns 37,955 shares of the company's stock valued at $81,000 after acquiring an additional 25,720 shares during the period. Finally, Focus Partners Advisor Solutions LLC purchased a new position in Osisko Development in the 2nd quarter worth approximately $82,000. Hedge funds and other institutional investors own 15.16% of the company's stock.

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.

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