Osisko Development (NYSE:ODV) Shares Gap Down - Time to Sell?

Key Points

• Shares gapped down: Osisko Development opened at $3.08 after closing at $3.33 and last traded near $3.2590 (down ~0.5%) with 67,523 shares changing hands, trading below its 50‑day and 200‑day moving averages ($3.75 and $3.54).
• Analyst sentiment is mixed: Weiss Ratings reissued a "sell (d-)" while the MarketBeat consensus is a "Moderate Buy" (1 Strong Buy, 2 Buy, 1 Sell).
• Fundamentals and recent results: The company reported quarterly EPS of $0.04 (beating estimates of -$0.03) on $2.19M revenue, but has a market cap of $1.01B, a negative trailing P/E (-3.91) with analysts forecasting -$0.16 EPS for the year and institutional ownership around 15.16%.

Shares of Osisko Development Corp. (NYSE:ODV - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $3.33, but opened at $3.08. Osisko Development shares last traded at $3.2590, with a volume of 67,523 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Osisko Development in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

Osisko Development Stock Down 0.5%

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.31 and a quick ratio of 1.29. The stock's 50 day simple moving average is $3.75 and its two-hundred day simple moving average is $3.54. The firm has a market cap of $1.01 billion, a P/E ratio of -3.91 and a beta of 0.76.

Osisko Development (NYSE:ODV - Get Free Report) last announced its quarterly earnings data on Friday, March 27th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.07. The company had revenue of $2.19 million for the quarter, compared to analysts' expectations of $2.19 million. As a group, research analysts forecast that Osisko Development Corp. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Purpose Unlimited Inc. bought a new position in Osisko Development in the 4th quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd bought a new stake in Osisko Development in the 4th quarter worth about $26,000. Virtu Financial LLC bought a new position in Osisko Development during the 4th quarter valued at about $130,000. Zazove Associates LLC grew its stake in shares of Osisko Development by 30.0% in the fourth quarter. Zazove Associates LLC now owns 260,000 shares of the company's stock worth $907,000 after acquiring an additional 60,000 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Osisko Development during the 4th quarter valued at $273,000. Institutional investors own 15.16% of the company's stock.

Osisko Development Company Profile

Osisko Development Corp. is a Canadian mineral exploration and development company focused on advancing a portfolio of high-quality precious and base metal projects in stable jurisdictions. The company’s strategy centers on the acquisition, exploration, and development of gold, zinc and lead deposits that offer the potential for scalable, long-life operations. Headquartered in Montreal, Quebec, Osisko Development operates primarily across Western Canada.

The company’s flagship asset is the Cariboo gold project in central British Columbia, where it is engaged in step-out drilling, resource definition and permitting activities aimed at building a robust mineral inventory.

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