Arbiter Partners Capital Management LLC Buys 320,000 Shares of Osisko Development Corp. $ODV

Arbiter Partners Capital Management LLC boosted its position in Osisko Development Corp. (NYSE:ODV) by 1,600.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 340,000 shares of the company’s stock after purchasing an additional 320,000 shares during the quarter. Osisko Development makes up approximately 0.7% of Arbiter Partners Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Arbiter Partners Capital Management LLC owned about 0.14% of Osisko Development worth $1,153,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Pinnacle Wealth Management Group Inc. raised its stake in shares of Osisko Development by 5.7% during the 3rd quarter. Pinnacle Wealth Management Group Inc. now owns 85,850 shares of the company’s stock worth $291,000 after acquiring an additional 4,600 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Osisko Development in the third quarter valued at approximately $32,000. HM Payson & Co. purchased a new position in Osisko Development in the third quarter worth $42,000. Crown Wealth Group LLC acquired a new position in shares of Osisko Development during the third quarter worth $61,000. Finally, XTX Topco Ltd lifted its holdings in shares of Osisko Development by 210.2% during the 2nd quarter. XTX Topco Ltd now owns 37,955 shares of the company’s stock valued at $81,000 after purchasing an additional 25,720 shares during the last quarter. 15.16% of the stock is currently owned by institutional investors.

Osisko Development Price Performance

NYSE:ODV opened at $4.49 on Thursday. The firm’s fifty day moving average is $3.78 and its two-hundred day moving average is $3.44. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -4.05 and a beta of 0.55. Osisko Development Corp. has a one year low of $1.28 and a one year high of $4.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.31.

Analysts Set New Price Targets

ODV has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a research report on Thursday, January 22nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Osisko Development in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

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.