Osisko Development (NYSE:OGG) Stock Rating Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Osisko Development (NYSE:OGG) from a hold rating to a strong sell rating in a research note released on Saturday,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Osisko Development from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Weiss Ratings upgraded shares of Osisko Development from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Osisko Development presently has an average rating of “Moderate Buy”.

Osisko Development Stock Performance

OGG stock traded up $0.01 during midday trading on Friday, hitting $2.27. The company’s stock had a trading volume of 760,063 shares, compared to its average volume of 2,006,294. The stock’s 50-day moving average price is $2.63 and its 200 day moving average price is $2.94. The company has a quick ratio of 3.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.40. Osisko Development has a 1 year low of $2.18 and a 1 year high of $3.25. The stock has a market cap of $633.94 million and a price-to-earnings ratio of 7.09.

Osisko Development (NYSE:OGG) last announced its quarterly earnings data on Wednesday, November 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Osisko Development had a net margin of 241.05% and a return on equity of 13.58%. The business had revenue of $13.83 million during the quarter. On average, equities analysts forecast that Osisko Development will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Osisko Development

Hedge funds have recently made changes to their positions in the stock. Arbiter Partners Capital Management LLC purchased a new stake in shares of Osisko Development in the second quarter worth about $5,320,000. The Manufacturers Life Insurance Company bought a new position in shares of Osisko Development in the second quarter valued at approximately $2,518,000. Engineers Gate Manager LP purchased a new position in Osisko Development during the second quarter valued at approximately $143,000. Integrated Wealth Concepts LLC purchased a new position in Osisko Development during the second quarter valued at approximately $37,000. Finally, Murphy Pohlad Asset Management LLC purchased a new position in Osisko Development during the second quarter valued at approximately $39,000. 15.16% of the stock is currently owned by hedge funds and other institutional investors.

Osisko Development Company Profile

Osisko Development is a gold-focused mineral exploration and development company. It advances projects from exploration and resource evaluation toward potential mine development, with assets in Canada, the United States and Mexico. The company’s flagship asset is the Cariboo Gold Project in central British Columbia, where it is working to develop a gold mine. Its other principal projects include the San Antonio Gold Project in Sonora, Mexico, and the Tintic Project in Utah, which provide additional opportunities for exploration and development.