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

Osisko Development Corp. (NYSE:ODV - Get Free Report) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 977,400 shares, a decline of 12.7% from the February 28th total of 1,120,000 shares. Based on an average daily trading volume, of 268,600 shares, the days-to-cover ratio is presently 3.6 days. Approximately 1.0% of the company's shares are sold short.

Hedge Funds Weigh In On Osisko Development

Several large investors have recently made changes to their positions in ODV. The Manufacturers Life Insurance Company purchased a new position in shares of Osisko Development during the third quarter worth $1,824,000. Jane Street Group LLC acquired a new position in Osisko Development in the 3rd quarter valued at about $69,000. Sprott Inc. lifted its position in shares of Osisko Development by 84.9% during the fourth quarter. Sprott Inc. now owns 1,466,468 shares of the company's stock worth $2,388,000 after purchasing an additional 673,523 shares in the last quarter. Townsquare Capital LLC purchased a new position in shares of Osisko Development in the third quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Osisko Development in the fourth quarter valued at approximately $189,000. 15.16% of the stock is currently owned by institutional investors and hedge funds.

Osisko Development Trading Down 8.1 %

ODV traded down $0.13 during trading hours on Friday, reaching $1.43. The company's stock had a trading volume of 596,344 shares, compared to its average volume of 214,752. The business's 50-day moving average is $1.45 and its 200-day moving average is $1.70. 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 stock has a market cap of $195.91 million, a PE ratio of -0.79 and a beta of 0.52. Osisko Development has a fifty-two week low of $1.16 and a fifty-two week high of $2.75.

Osisko Development (NYSE:ODV - Get Free Report) last issued its quarterly earnings data on Friday, March 28th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). Osisko Development had a negative return on equity of 11.51% and a negative net margin of 1,817.64%. The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.40 million. As a group, equities research analysts predict that Osisko Development will post -0.16 earnings per share for the current fiscal 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.