Osisko Development (NYSE:ODV) Trading Up 3.2% – Time to Buy?

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

Osisko Development Stock Performance

The company has a market cap of $212.43 million, a P/E ratio of -0.86 and a beta of 0.72. The stock’s 50-day moving average price is $1.47 and its 200-day moving average price is $1.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.47 and a quick ratio of 0.43.

Institutional Investors Weigh In On Osisko Development

Institutional investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. bought a new position in Osisko Development during the 4th quarter worth $196,000. WCG Wealth Advisors LLC bought a new position in shares of Osisko Development in the fourth quarter worth $201,000. Focus Partners Advisor Solutions LLC acquired a new position in Osisko Development in the fourth quarter valued at about $62,000. Bastion Asset Management Inc. acquired a new position in Osisko Development in the fourth quarter valued at about $326,000. Finally, Anson Funds Management LP bought a new stake in Osisko Development during the fourth quarter worth about $4,667,000. 15.16% of the stock is currently owned by institutional investors.

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.