Short Interest in Osisko Development Corp. (NYSE:ODV) Expands By 47.4%

Key Points

• Short interest in Osisko Development Corp. (NYSE:ODV) increased by 47.4% in September, totaling 5,910,000 shares as of September 30th.
• Analyst ratings on Osisko Development vary, with one upgrade to a "strong-buy," while the consensus rating is a "Moderate Buy."
• The company's stock has a current market capitalization of $825.53 million and is trading at around $3.45 per share.

Osisko Development Corp. (NYSE:ODV - Get Free Report) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totaling 5,910,000 shares, a growth of 47.4% from the September 15th total of 4,010,000 shares. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 4.8 days. Approximately 6.3% of the shares of the stock are sold short. Approximately 6.3% of the shares of the stock are sold short. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 4.8 days.

Analyst Upgrades and Downgrades

ODV has been the subject of several research analyst reports. Stifel Canada raised Osisko Development to a "strong-buy" rating in a research note on Tuesday, July 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Osisko Development in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Osisko Development from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One equities research 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 company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy".

Osisko Development Stock Performance

Osisko Development stock opened at $3.45 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 0.68. The stock has a fifty day moving average of $3.10 and a two-hundred day moving average of $2.40. The company has a market capitalization of $825.53 million, a price-to-earnings ratio of -4.20 and a beta of 0.70. Osisko Development has a fifty-two week low of $1.16 and a fifty-two week high of $3.89.

Hedge Funds Weigh In On Osisko Development

Several hedge funds have recently bought and sold shares of the stock. Crown Wealth Group LLC purchased a new position in Osisko Development during the third quarter worth $61,000. HM Payson & Co. acquired a new stake in shares of Osisko Development during the third quarter worth $42,000. Pinnacle Wealth Management Group Inc. boosted its holdings in shares of Osisko Development by 5.7% during the third quarter. Pinnacle Wealth Management Group Inc. now owns 85,850 shares of the company's stock worth $291,000 after purchasing an additional 4,600 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Osisko Development during the second quarter worth $79,000. Finally, Marshall Wace LLP acquired a new stake in shares of Osisko Development during the second quarter worth $258,000. 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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