Osisko Development (CVE:ODV) Shares Down 2.5% – What’s Next?

Osisko Development Corp. (CVE:ODV)’s share price fell 2.5% during mid-day trading on Wednesday . The company traded as low as C$3.33 and last traded at C$3.52. 41,460 shares were traded during mid-day trading, an increase of 11% from the average session volume of 37,432 shares. The stock had previously closed at C$3.61.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ODV. Royal Bank of Canada reduced their target price on shares of Osisko Development from C$6.00 to C$5.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. Eight Capital cut their price objective on shares of Osisko Development from C$11.00 to C$9.00 in a research report on Thursday, July 11th. Finally, Ventum Financial cut their price objective on shares of Osisko Development from C$7.50 to C$4.50 in a research report on Thursday, August 29th.

Osisko Development Price Performance

The company has a 50 day moving average price of C$2.95 and a 200-day moving average price of C$2.87. The company has a quick ratio of 2.81, a current ratio of 0.64 and a debt-to-equity ratio of 8.45. The company has a market cap of C$347.99 million, a price-to-earnings ratio of -1.61 and a beta of 1.18.

Osisko Development (CVE:ODV) last released its quarterly earnings data on Monday, August 12th. The company reported C($0.34) earnings per share (EPS) for the quarter. The firm had revenue of C$2.63 million during the quarter. As a group, equities research analysts predict that Osisko Development Corp. will post 0.1150263 EPS for the current fiscal year.

About Osisko Development

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.