Osisko Development (NYSE:ODV) Shares Gap Down – Here’s What Happened

Osisko Development Corp. (NYSE:ODV)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $3.33, but opened at $3.08. Osisko Development shares last traded at $3.2590, with a volume of 67,523 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Osisko Development in a research note on Thursday, January 22nd. One 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Osisko Development Stock Performance

The firm’s 50-day moving average price is $3.73 and its two-hundred day moving average price is $3.54. 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 firm has a market capitalization of $1.00 billion, a PE ratio of -3.88 and a beta of 0.75.

Osisko Development (NYSE:ODV) last announced its earnings results on Friday, March 27th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. The firm had revenue of $2.19 million for the quarter, compared to analyst estimates of $2.19 million. As a group, research analysts predict that Osisko Development Corp. will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ODV. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Osisko Development during the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Osisko Development during the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Osisko Development during the 3rd quarter worth about $32,000. Purpose Unlimited Inc. acquired a new stake in shares of Osisko Development during the 4th quarter valued at about $34,000. Finally, Engineers Gate Manager LP acquired a new stake in Osisko Development in the fourth quarter valued at approximately $36,000. 15.16% of the stock is owned by hedge funds and other institutional investors.

Osisko Development Company Profile

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.