Osisko Development (NYSE:ODV) Trading 5.9% Higher on Better-Than-Expected Earnings

Osisko Development Corp. (NYSE:ODV)’s share price rose 5.9% during trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $3.15 and last traded at $3.1040. Approximately 885,530 shares changed hands during trading, a decline of 69% from the average daily volume of 2,882,156 shares. The stock had previously closed at $2.93.

The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The business had revenue of $2.19 million for the quarter, compared to analysts’ expectations of $2.19 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Osisko Development in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Osisko Development presently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On Osisko Development

A number of large investors have recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in Osisko Development in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Osisko Development in the fourth quarter worth $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Osisko Development in the third quarter worth $32,000. Purpose Unlimited Inc. bought a new stake in Osisko Development during the fourth quarter valued at $34,000. Finally, Engineers Gate Manager LP purchased a new position in Osisko Development during the fourth quarter worth about $36,000. 15.16% of the stock is currently owned by institutional investors.

Osisko Development Stock Performance

The firm has a market capitalization of $945.77 million, a PE ratio of -3.65 and a beta of 0.55. 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 company has a 50-day moving average of $3.77 and a 200 day moving average of $3.54.

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.