Osisko Development (CVE:ODV) Shares Down 7.4% – What’s Next?

Osisko Development Corp. (CVE:ODV)’s stock price dropped 7.4% during mid-day trading on Friday . The stock traded as low as C$2.36 and last traded at C$2.37. Approximately 76,105 shares changed hands during trading, an increase of 83% from the average daily volume of 41,525 shares. The stock had previously closed at C$2.56.

Analysts Set New Price Targets

Separately, Royal Bank of Canada cut their price objective on shares of Osisko Development from C$6.00 to C$5.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th.

Osisko Development Price Performance

The company has a market cap of C$234.30 million, a price-to-earnings ratio of -1.08 and a beta of 1.18. The stock has a 50 day simple moving average of C$2.53 and a two-hundred day simple moving average of C$2.72. The company has a debt-to-equity ratio of 8.45, a current ratio of 0.64 and a quick ratio of 2.81.

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.