Osisko Development (NYSE:ODV) Trading Up 5.9% After Strong Earnings

Osisko Development Corp. (NYSE:ODV)’s stock price traded up 5.9% during trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $3.15 and last traded at $3.1040. 885,530 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 2,882,156 shares. The stock had previously closed at $2.93.

The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The firm had revenue of $2.19 million during the quarter, compared to analyst estimates of $2.19 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Osisko Development in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Osisko Development has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC bought a new position in shares of Osisko Development in the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Osisko Development during the fourth quarter worth approximately $26,000. Bruce G. Allen Investments LLC bought a new stake in Osisko Development during the third quarter worth approximately $32,000. Purpose Unlimited Inc. acquired a new position in Osisko Development during the fourth quarter valued at approximately $34,000. Finally, Engineers Gate Manager LP acquired a new position in Osisko Development during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 15.16% of the company’s stock.

Osisko Development Stock Performance

The company has a market cap of $923.24 million, a P/E ratio of -3.57 and a beta of 0.55. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average price is $3.76 and its 200 day moving average price is $3.54.

About Osisko Development

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.