Osisko Development Corp. (NYSE:ODV) Sees Significant Decline in Short Interest

Osisko Development Corp. (NYSE:ODV) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 977,400 shares, a decrease of 12.7% from the February 28th total of 1,120,000 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 268,600 shares, the short-interest ratio is currently 3.6 days.

Institutional Investors Weigh In On Osisko Development

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company purchased a new position in shares of Osisko Development in the 3rd quarter worth $1,824,000. Jane Street Group LLC bought a new position in shares of Osisko Development in the 3rd quarter valued at about $69,000. Sprott Inc. grew its position in Osisko Development by 84.9% in the fourth quarter. Sprott Inc. now owns 1,466,468 shares of the company’s stock worth $2,388,000 after acquiring an additional 673,523 shares in the last quarter. Townsquare Capital LLC bought a new stake in Osisko Development during the third quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC purchased a new stake in Osisko Development during the fourth quarter valued at approximately $189,000. Institutional investors own 15.16% of the company’s stock.

Osisko Development Price Performance

Shares of Osisko Development stock traded up $0.12 during trading on Thursday, reaching $1.61. 1,079,897 shares of the stock traded hands, compared to its average volume of 212,094. Osisko Development has a 52-week low of $1.16 and a 52-week high of $2.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.47 and a quick ratio of 0.43. The business has a fifty day simple moving average of $1.45 and a two-hundred day simple moving average of $1.71. The company has a market capitalization of $219.94 million, a price-to-earnings ratio of -0.89 and a beta of 0.72.

Osisko Development (NYSE:ODV) last released its quarterly earnings results on Friday, March 28th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.40 million. Osisko Development had a negative net margin of 1,817.64% and a negative return on equity of 11.51%. Sell-side analysts expect that Osisko Development will post -0.16 EPS for the current year.

Osisko Development Company Profile

Osisko Development Corp. acquires, explores, and develops mineral properties in Canada, Mexico, and the United States. It explores for gold; and precious and base metals. The company's flagship asset is the Cariboo Gold Project covering an area of approximately 155,000 hectares consisting of 415 mineral titles located in British Columbia, Canada.