Equinox Partners Investment Management LLC Trims Stake in Osisko Development Corp. $ODV

Equinox Partners Investment Management LLC lowered its stake in shares of Osisko Development Corp. (NYSE:ODV) by 64.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 573,739 shares of the company’s stock after selling 1,032,596 shares during the quarter. Osisko Development comprises 1.0% of Equinox Partners Investment Management LLC’s portfolio, making the stock its 12th largest position. Equinox Partners Investment Management LLC owned approximately 0.22% of Osisko Development worth $1,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ODV. Condire Management LP increased its position in shares of Osisko Development by 75.0% during the third quarter. Condire Management LP now owns 21,964,844 shares of the company’s stock valued at $74,461,000 after buying an additional 9,412,910 shares during the period. Amundi bought a new stake in Osisko Development during the third quarter worth about $16,335,000. Sprott Inc. boosted its stake in Osisko Development by 1,699.9% during the fourth quarter. Sprott Inc. now owns 4,560,007 shares of the company’s stock worth $15,482,000 after acquiring an additional 4,306,666 shares in the last quarter. Schroder Investment Management Group bought a new stake in Osisko Development during the third quarter worth about $13,380,000. Finally, Anson Funds Management LP boosted its stake in Osisko Development by 82.6% during the third quarter. Anson Funds Management LP now owns 7,150,761 shares of the company’s stock worth $24,241,000 after acquiring an additional 3,235,008 shares in the last quarter. Hedge funds and other institutional investors own 15.16% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Osisko Development in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Osisko Development Trading Down 2.0%

NYSE:ODV opened at $2.73 on Thursday. Osisko Development Corp. has a one year low of $1.97 and a one year high of $4.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.37 and a quick ratio of 2.33. The company’s 50-day simple moving average is $3.02 and its 200 day simple moving average is $3.45. The firm has a market capitalization of $830.36 million, a P/E ratio of -5.24 and a beta of 0.58.

Osisko Development (NYSE:ODV) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Osisko Development had a negative net margin of 192.13% and a negative return on equity of 10.46%. The business had revenue of $1.59 million for the quarter, compared to analyst estimates of $1.68 million. As a group, analysts forecast that Osisko Development Corp. will post -0.04 EPS for the current fiscal year.

Osisko Development Profile

Osisko Development Corp. is a Canadian mineral exploration and development company focused on advancing a portfolio of high-quality precious and base metal projects in stable jurisdictions. The company’s strategy centers on the acquisition, exploration, and development of gold, zinc and lead deposits that offer the potential for scalable, long-life operations. Headquartered in Montreal, Quebec, Osisko Development operates primarily across Western Canada.

The company’s flagship asset is the Cariboo gold project in central British Columbia, where it is engaged in step-out drilling, resource definition and permitting activities aimed at building a robust mineral inventory.