Osisko Development Corp. (NYSE:ODV) Short Interest Down 38.0% in March

Osisko Development Corp. (NYSE:ODV) was the recipient of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 6,649,837 shares, a drop of 38.0% from the February 26th total of 10,732,826 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average trading volume of 2,882,001 shares, the days-to-cover ratio is currently 2.3 days.

Osisko Development Price Performance

Shares of ODV stock traded up $0.07 during mid-day trading on Friday, reaching $2.93. The company’s stock had a trading volume of 2,138,292 shares, compared to its average volume of 3,308,691. The firm’s 50-day moving average is $3.77 and its two-hundred day moving average is $3.53. The company has a market cap of $890.96 million, a P/E ratio of -3.44 and a beta of 0.55. Osisko Development has a 1-year low of $1.36 and a 1-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.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Osisko Development

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ODV. Purpose Unlimited Inc. bought a new position in shares of Osisko Development in the fourth quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd bought a new stake in Osisko Development during the 4th quarter worth approximately $26,000. Virtu Financial LLC bought a new stake in Osisko Development during the 4th quarter worth approximately $130,000. Zazove Associates LLC increased its holdings in Osisko Development by 30.0% during the 4th quarter. Zazove Associates LLC now owns 260,000 shares of the company’s stock valued at $907,000 after purchasing an additional 60,000 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Osisko Development in the 4th quarter valued at $273,000. 15.16% of the stock is currently owned by institutional investors and hedge funds.

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.