Osisko Development (NYSE:ODV) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen has upgraded Osisko Development's stock rating from "sell" to "hold," indicating a more neutral stance on the company's performance.
• Other analysts have also shown positive sentiment, with National Bankshares and Royal Bank of Canada recently reiterating their ratings of "outperform" and "moderate buy," respectively.
• Osisko Development's stock is currently trading at $2.55, with a market cap of $352.00 million and a notable 1-year high of $2.75.

Osisko Development (NYSE:ODV - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

A number of other research analysts also recently weighed in on the stock. Royal Bank Of Canada upgraded shares of Osisko Development from a "hold" rating to a "moderate buy" rating in a research report on Monday, June 2nd. National Bankshares reissued an "outperform" rating on shares of Osisko Development in a research note on Tuesday, June 24th. Finally, Stifel Canada upgraded shares of Osisko Development to a "strong-buy" rating in a report on Tuesday, July 8th.

Osisko Development Stock Performance

NYSE:ODV traded down $0.03 during trading hours on Friday, reaching $2.55. The company had a trading volume of 666,903 shares, compared to its average volume of 877,498. The firm has a market cap of $352.00 million, a price-to-earnings ratio of -3.11 and a beta of 0.61. Osisko Development has a 52 week low of $1.16 and a 52 week high of $2.75. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.01. The firm's 50 day moving average price is $2.32 and its 200-day moving average price is $1.85.

Hedge Funds Weigh In On Osisko Development

A number of hedge funds have recently added to or reduced their stakes in ODV. SeaBridge Investment Advisors LLC acquired a new stake in shares of Osisko Development in the second quarter worth $26,000. Salem Investment Counselors Inc. bought a new position in shares of Osisko Development during the second quarter valued at $30,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Osisko Development during the fourth quarter valued at $62,000. Raymond James Financial Inc. bought a new position in shares of Osisko Development during the second quarter valued at $79,000. Finally, XTX Topco Ltd raised its holdings in shares of Osisko Development by 210.2% in the second quarter. XTX Topco Ltd now owns 37,955 shares of the company's stock valued at $81,000 after buying an additional 25,720 shares during the last quarter. Institutional investors and hedge funds own 15.16% of the company's stock.

About Osisko Development

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.