Osisko Development (NYSE:ODV) Raised to “Moderate Buy” at Royal Bank of Canada

Osisko Development (NYSE:ODV) was upgraded by investment analysts at Royal Bank of Canada from a “hold” rating to a “moderate buy” rating in a report issued on Monday,Zacks.com reports.

Osisko Development Trading Up 2.0%

NYSE ODV opened at $2.02 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.47 and a debt-to-equity ratio of 0.01. The firm has a market cap of $275.90 million, a PE ratio of -1.12 and a beta of 0.47. The company has a 50 day moving average price of $1.72 and a 200 day moving average price of $1.62. Osisko Development has a 52 week low of $1.16 and a 52 week high of $2.75.

Osisko Development (NYSE:ODV) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.06) EPS for the quarter. Osisko Development had a negative return on equity of 11.51% and a negative net margin of 1,817.64%. As a group, sell-side analysts forecast that Osisko Development will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Sprott Inc. boosted its holdings in shares of Osisko Development by 84.9% in the 4th quarter. Sprott Inc. now owns 1,466,468 shares of the company’s stock valued at $2,388,000 after acquiring an additional 673,523 shares during the last quarter. Amitell Capital Pte Ltd purchased a new stake in shares of Osisko Development in the 4th quarter valued at $944,000. Anson Funds Management LP purchased a new stake in shares of Osisko Development in the 4th quarter valued at $4,667,000. Bastion Asset Management Inc. purchased a new stake in shares of Osisko Development in the 4th quarter valued at $326,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Osisko Development in the 4th quarter valued at $196,000. 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.