Osisko Development (CVE:ODV) Shares Up 3.1% – Time to Buy?

Osisko Development Corp. (CVE:ODV)’s stock price shot up 3.1% on Wednesday . The stock traded as high as C$5.08 and last traded at C$5.00. 312,063 shares were traded during mid-day trading, an increase of 35% from the average session volume of 230,503 shares. The stock had previously closed at C$4.85.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada upped their price objective on shares of Osisko Development from C$7.00 to C$9.00 in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average target price of C$7.50.

Osisko Development Trading Up 3.1%

The company has a quick ratio of 2.81, a current ratio of 0.47 and a debt-to-equity ratio of 1.38. The firm has a market cap of C$1.49 billion, a P/E ratio of -3.09 and a beta of 1.52. The firm’s 50-day simple moving average is C$5.03 and its 200 day simple moving average is C$4.58.

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. It also holds a portfolio of marketable securities. Osisko Development Corp. is based in Montréal, Canada.