Principal Financial Group Inc. Has $23.93 Million Holdings in Osisko Development Corp. $ODV

Principal Financial Group Inc. lifted its position in Osisko Development Corp. (NYSE:ODV) by 18.5% in the 1st quarter, Holdings Channel reports. The fund owned 7,403,436 shares of the company’s stock after buying an additional 1,154,800 shares during the period. Principal Financial Group Inc.’s holdings in Osisko Development were worth $23,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODV. Gamco Investors INC. ET AL increased its holdings in shares of Osisko Development by 11.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 52,200 shares of the company’s stock valued at $182,000 after purchasing an additional 5,400 shares during the period. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Osisko Development by 3.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 164,640 shares of the company’s stock worth $558,000 after purchasing an additional 5,985 shares during the period. SeaBridge Investment Advisors LLC boosted its holdings in shares of Osisko Development by 50.0% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 18,000 shares of the company’s stock worth $63,000 after purchasing an additional 6,000 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Osisko Development during the fourth quarter valued at approximately $26,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Osisko Development during the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 15.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research report on Tuesday, April 21st. Stifel Nicolaus upgraded shares of Osisko Development to a “strong-buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Osisko Development currently has a consensus rating of “Moderate Buy”.

Osisko Development Trading Up 1.2%

NYSE:ODV opened at $2.30 on Tuesday. The company’s 50 day moving average is $2.62 and its 200-day moving average is $3.25. The company has a quick ratio of 2.33, a current ratio of 2.37 and a debt-to-equity ratio of 0.15. Osisko Development Corp. has a 12 month low of $2.14 and a 12 month high of $4.80. The firm has a market cap of $702.82 million, a price-to-earnings ratio of -4.42 and a beta of 0.61.

Osisko Development (NYSE:ODV) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Osisko Development had a negative net margin of 192.13% and a negative return on equity of 10.46%. The business had revenue of $1.59 million during the quarter, compared to the consensus estimate of $1.68 million. Equities analysts anticipate that Osisko Development Corp. will post -0.04 EPS for the current year.

Osisko Development 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.