Osisko Development Corp. (NYSE:ODV) Short Interest Down 31.4% in December

Osisko Development Corp. (NYSE:ODV) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 10,926,574 shares, a drop of 31.4% from the December 15th total of 15,917,020 shares. Approximately 4.3% of the shares of the stock are sold short. Based on an average trading volume of 1,412,398 shares, the days-to-cover ratio is presently 7.7 days. Based on an average trading volume of 1,412,398 shares, the days-to-cover ratio is presently 7.7 days. Approximately 4.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Osisko Development

Several hedge funds have recently added to or reduced their stakes in ODV. SeaBridge Investment Advisors LLC acquired a new position in Osisko Development in the 2nd quarter valued at approximately $26,000. Bruce G. Allen Investments LLC bought a new stake in shares of Osisko Development in the third quarter worth $32,000. HM Payson & Co. acquired a new stake in Osisko Development in the third quarter valued at $42,000. Norden Group LLC acquired a new stake in Osisko Development in the fourth quarter valued at $55,000. Finally, Squarepoint Ops LLC bought a new position in Osisko Development during the 3rd quarter worth $57,000. 15.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ODV shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a report on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of Osisko Development in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Osisko Development Price Performance

Shares of NYSE:ODV traded down $0.05 during trading on Friday, hitting $3.46. 1,194,084 shares of the company were exchanged, compared to its average volume of 1,195,307. Osisko Development has a 1-year low of $1.16 and a 1-year high of $4.20. The company has a market capitalization of $882.54 million, a P/E ratio of -3.12 and a beta of 0.66. 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 business’s 50 day moving average is $3.53 and its 200-day moving average is $3.10.

Osisko Development (NYSE:ODV) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.12). The company had revenue of $3.20 million during the quarter, compared to the consensus estimate of $0.36 million. Equities analysts forecast that Osisko Development will post -0.16 earnings per share for the current year.

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.