Short Interest in Osisko Development Corp. (NYSE:ODV) Decreases By 12.7%

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

Osisko Development Trading Up 3.7 %

NYSE:ODV opened at $1.55 on Wednesday. The company has a fifty day moving average of $1.45 and a 200 day moving average of $1.72. Osisko Development has a 52 week low of $1.16 and a 52 week high of $2.75. The firm has a market capitalization of $211.06 million, a P/E ratio of -0.85 and a beta of 0.72. The company has a quick ratio of 0.43, a current ratio of 0.47 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On Osisko Development

Several hedge funds have recently bought and sold shares of the business. Anson Funds Management LP purchased a new position in Osisko Development during the fourth quarter valued at $4,667,000. The Manufacturers Life Insurance Company purchased a new position in shares of Osisko Development in the 3rd quarter worth about $1,824,000. Sprott Inc. boosted its stake in Osisko Development by 84.9% in the 4th 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. Amitell Capital Pte Ltd bought a new stake in shares of Osisko Development during the fourth quarter valued at approximately $944,000. Finally, Bastion Asset Management Inc. purchased a new position in Osisko Development in the 4th quarter worth approximately $326,000. Institutional investors own 15.16% of the company’s stock.

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.