Osisko Development Corp. (NYSE:ODV) Short Interest Up 23.9% in January

Osisko Development Corp. (NYSE:ODV) was the target of a large increase in short interest in January. As of January 30th, there was short interest totaling 12,363,297 shares, an increase of 23.9% from the January 15th total of 9,981,439 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 3,803,799 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily volume of 3,803,799 shares, the days-to-cover ratio is presently 3.3 days. Currently, 4.8% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ODV shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Osisko Development in a research note on Monday, November 17th. Weiss Ratings restated 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 issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Institutional Trading of Osisko Development

Several large investors have recently modified their holdings of ODV. Kohmann Bosshard Financial Services LLC purchased a new position in Osisko Development in the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC bought a new position in shares of Osisko Development in the 3rd quarter worth approximately $32,000. HM Payson & Co. purchased a new position in shares of Osisko Development in the third quarter worth approximately $42,000. Norden Group LLC purchased a new position in shares of Osisko Development in the fourth quarter worth approximately $55,000. Finally, Squarepoint Ops LLC bought a new stake in Osisko Development during the third quarter valued at approximately $57,000. Institutional investors own 15.16% of the company’s stock.

Osisko Development Stock Performance

Shares of ODV traded down $0.07 during mid-day trading on Monday, hitting $3.69. 3,621,586 shares of the company traded hands, compared to its average volume of 3,563,632. The stock has a market cap of $952.28 million, a price-to-earnings ratio of -3.33 and a beta of 0.66. The stock has a 50-day moving average price of $3.67 and a two-hundred day moving average price of $3.29. Osisko Development has a 1 year low of $1.16 and a 1 year high of $4.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.31.

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.