Osisko Development (NYSE:ODV) Trading Up 4% - Still a Buy?

Key Points

• Osisko Development shares rose 4% on Thursday, trading as high as $2.48 on lighter-than-normal volume compared with its recent average.
• Analyst sentiment is mixed, but the stock currently carries a consensus rating of “Moderate Buy”; Stifel Nicolaus recently upgraded it to “strong-buy” while Weiss Ratings reiterated a “sell” rating.
• The company recently reported a smaller-than-expected quarterly loss of $0.01 per share, though revenue came in below estimates and analysts expect a loss for the full year.

Osisko Development Corp. (NYSE:ODV - Get Free Report)'s stock price traded up 4% on Thursday . The company traded as high as $2.48 and last traded at $2.4750. Approximately 1,743,302 shares were traded during mid-day trading, a decline of 29% from the average session volume of 2,448,682 shares. The stock had previously closed at $2.38.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stifel Nicolaus raised Osisko Development to a "strong-buy" rating in a research note on Monday, June 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Osisko Development in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Osisko Development has a consensus rating of "Moderate Buy".

Osisko Development Trading Up 4.0%

The firm's 50-day simple moving average is $2.74 and its 200-day simple moving average is $3.31. The company has a quick ratio of 2.33, a current ratio of 2.37 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $756.88 million, a PE ratio of -4.76 and a beta of 0.61.

Osisko Development (NYSE:ODV - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.01. Osisko Development had a negative return on equity of 10.46% and a negative net margin of 192.13%.The firm had revenue of $1.59 million for the quarter, compared to analysts' expectations of $1.68 million. Equities analysts expect that Osisko Development Corp. will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Osisko Development

A number of large investors have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. bought a new stake in Osisko Development during the 3rd quarter valued at $1,641,000. Ruffer LLP purchased a new stake in Osisko Development during the 4th quarter valued at $2,638,000. Anson Funds Management LP grew its holdings in Osisko Development by 82.6% in the 3rd quarter. Anson Funds Management LP now owns 7,150,761 shares of the company's stock worth $24,241,000 after acquiring an additional 3,235,008 shares during the last quarter. Gabelli Funds LLC bought a new stake in Osisko Development in the 4th quarter worth $1,396,000. Finally, Invenomic Capital Management LP purchased a new position in shares of Osisko Development in the fourth quarter valued at about $7,713,000. 15.16% of the stock is owned by hedge funds and other institutional investors.

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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