Osisko Development (NYSE:ODV) Shares Gap Up - Here's What Happened

Key Points

• Shares gapped up: Osisko Development (NYSE:ODV) opened higher from $2.96 to $3.16, last trading around $3.056 with about 486,584 shares changing hands and the stock reported up roughly 3.9%.
• Mixed analyst views: MarketBeat shows a consensus "Moderate Buy" (1 Strong Buy, 2 Buy, 1 Sell), while Weiss Ratings recently reiterated a "sell (d-)" on the stock.
• Company profile and metrics: Osisko Development is a Canadian precious/base metals explorer focused on the Cariboo gold project, with a market cap near $936.7M, a negative P/E (-2.77), and about 15.16% institutional ownership.

Shares of Osisko Development Corp. (NYSE:ODV - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $2.96, but opened at $3.16. Osisko Development shares last traded at $3.0560, with a volume of 486,584 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Osisko Development in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Osisko Development Trading Up 3.9%

The firm has a market capitalization of $936.65 million, a price-to-earnings ratio of -2.77 and a beta of 0.55. The company has a fifty day moving average price of $3.81 and a 200-day moving average price of $3.54. The company has a current ratio of 1.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25.

Institutional Trading of Osisko Development

Several large investors have recently added to or reduced their stakes in ODV. Caitong International Asset Management Co. Ltd bought a new position in shares of Osisko Development during the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in Osisko Development in the fourth quarter worth $26,000. Bruce G. Allen Investments LLC bought a new stake in Osisko Development in the third quarter worth $32,000. Purpose Unlimited Inc. acquired a new position in Osisko Development during the fourth quarter worth $34,000. Finally, Engineers Gate Manager LP bought a new position in Osisko Development during the fourth quarter valued at about $36,000. 15.16% of the stock is owned by institutional investors.

About Osisko Development

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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