Osisko Development (NYSE:ODV) Stock Price Up 4.7% - Here's What Happened

Key Points

• Osisko Development Corp. shares rose by 4.7% on Wednesday, reaching a last traded price of $3.44, with trading volume significantly up by 89%.
• Analysts have given mixed ratings for the stock, with Weiss Ratings maintaining a "sell" rating, while Stifel Canada upgraded it to a "strong-buy", reflecting a current consensus rating of "Moderate Buy."
• Institutional investors hold 15.16% of the company's shares, with several large firms acquiring new positions in the stock recently, indicating growing interest.

Shares of Osisko Development Corp. (NYSE:ODV - Get Free Report) rose 4.7% on Wednesday . The company traded as high as $3.42 and last traded at $3.44. Approximately 1,391,248 shares were traded during trading, an increase of 89% from the average daily volume of 734,489 shares. The stock had previously closed at $3.28.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Osisko Development in a research note on Wednesday, October 8th. Stifel Canada upgraded Osisko Development to a "strong-buy" rating in a research note on Tuesday, July 8th. National Bankshares restated an "outperform" rating on shares of Osisko Development in a research note on Tuesday, June 24th. Finally, Wall Street Zen upgraded Osisko Development from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Osisko Development Stock Performance

The company has a market cap of $825.53 million, a P/E ratio of -4.20 and a beta of 0.70. The firm has a 50 day moving average price of $3.08 and a 200-day moving average price of $2.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 0.68.

Institutional Trading of Osisko Development

Several large investors have recently made changes to their positions in the stock. SeaBridge Investment Advisors LLC acquired a new position in shares of Osisko Development during the 2nd quarter worth about $26,000. HM Payson & Co. acquired a new position in shares of Osisko Development during the 3rd quarter worth about $42,000. Salem Investment Counselors Inc. acquired a new position in shares of Osisko Development during the 2nd quarter worth about $30,000. Crown Wealth Group LLC acquired a new position in shares of Osisko Development during the 3rd quarter worth about $61,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Osisko Development during the 2nd quarter worth about $79,000. 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.

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.