Osisko Development (NYSE:ODV) Trading Up 3.2% – What’s Next?

Osisko Development Corp. (NYSE:ODV) traded up 3.2% during trading on Wednesday . The stock traded as high as $1.48 and last traded at $1.47. 4,296,446 shares traded hands during trading, an increase of 2,048% from the average session volume of 200,014 shares. The stock had previously closed at $1.42.

Osisko Development Stock Performance

The stock has a market cap of $212.43 million, a price-to-earnings ratio of -0.86 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. The company has a 50 day simple moving average of $1.47 and a 200 day simple moving average of $1.75.

Hedge Funds Weigh In On Osisko Development

A number of institutional investors have recently added to or reduced their stakes in ODV. Polar Asset Management Partners Inc. acquired a new stake in Osisko Development in the fourth quarter valued at approximately $196,000. WCG Wealth Advisors LLC bought a new position in shares of Osisko Development in the 4th quarter valued at $201,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Osisko Development during the 4th quarter valued at $62,000. Bastion Asset Management Inc. bought a new stake in Osisko Development during the 4th quarter worth $326,000. Finally, Anson Funds Management LP bought a new stake in Osisko Development during the 4th quarter worth $4,667,000. 15.16% of the stock is currently owned by institutional investors and hedge funds.

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.