Raffles Associates LP Trims Osisko Development Corp. Holdings.
March 1, 2023
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Raffles Associates LP recently reduced their investment in Osisko Development ($TSXV:ODV) Corp. This move by Raffles Associates LP signals a shift in their commitment to the company, which had been increasing steadily in recent months. Osisko Development Corp. is a Canadian exploration and development company involved in the gold mining business. The company operates throughout the Americas, with a focus on the Canadian provinces of Ontario and Quebec. It is focused on the exploration, development and production of precious and base metal resources. The reduction in Raffles Associates LP’s stake in Osisko Development Corp. could be indicative of their apprehension towards the company’s potential for future growth.
While the market for gold remains strong, there are still risks associated with investing in this sector, and this may have swayed Raffles Associates LP’s decision to reduce their holdings. Ultimately, only time will tell whether or not Raffles Associates LP’s move to lower their stake in Osisko Development Corp. will prove to be a wise investment decision. Until then, investors will be watching the company’s performance in the marketplace closely to determine the effects of this change.
Share Price
Raffles Associates LP recently trimmed their holdings in Osisko Development Corp., the Canadian gold exploration and development company. Despite the news, coverage has been mostly positive over the course of the stock’s performance. On Tuesday, OSISKO DEVELOPMENT opened at CA$5.6 and closed at CA$5.9, reflecting a 4.2% increase from it’s prior closing price of 5.7. This indicates that investors remain confident in the company’s successful growth, even as Raffles Associates LP reduces their share of ownership. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Osisko Development. More…
| Total Revenues | Net Income | Net Margin |
| 47.8 | -184.02 | -197.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Osisko Development. More…
| Operations | Investing | Financing |
| -61.35 | -133.64 | 249.63 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Osisko Development. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.01k | 214.08 | 10.5 |
Key Ratios Snapshot
Some of the financial key ratios for Osisko Development are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -386.8% |
| FCF Margin | ROE | ROA |
| -32.9% | -13.8% | -11.5% |
Analysis
At GoodWhale, we diligently analyze the fundamentals of OSISKO DEVELOPMENT to provide our users with the best investment advice. Based on our Risk Rating, OSISKO DEVELOPMENT is a high risk investment with financial and business aspects to consider. When conducting our analysis, we identified two risk warnings in the income sheet and cashflow statement. If you are interested in learning more about these warnings, please register as a user to view our detailed insights. More…
Peers
The company operates in the Province of Quebec and has its head office in Montreal. The company is listed on the Toronto Stock Exchange and the NASDAQ. Osisko Development Corp is engaged in the exploration and development of gold properties in North America. The company has a portfolio of gold properties in the United States, Canada and Mexico. The company’s principal assets are the Windfall Lake gold property located in the Abitibi greenstone belt in Quebec, Canada and the Goldex mine located in the Val-d’Or mining camp in Quebec, Canada.
– Xtra-Gold Resources Corp ($TSX:XTG)
Xtra-Gold Resources Corp is a Canadian-based gold exploration company with operations in Ghana, West Africa. The company has a market cap of 41.38M as of 2022 and a Return on Equity of -10.23%. Xtra-Gold Resources Corp is engaged in the business of acquiring, exploring, and developing gold properties. The company’s flagship property is the Kibi Gold Belt, which is located in Ghana and covers an area of approximately 1,000 square kilometers.
– Gold Springs Resource Corp ($TSX:GRC)
Gold Springs Resource Corp is a gold mining company with a market cap of $42.3 million as of 2022. The company has a return on equity of 3.46%. Gold Springs Resource Corp is engaged in the exploration and development of gold properties in the United States.
Summary
Investors have been keeping a close eye on the stock of Osisko Development Corp., as it has been trending up since Raffles Associates LP announced a trimming of its holdings in the company. News coverage of the company has been generally positive, which has driven the stock price up. With the positive momentum in mind, many investors are taking a closer look at the investment potential of Osisko Development.
Analyzing fundamentals such as the company’s financials and business strategy will help investors make an informed decision about investing in the stock. With its promising potential, Osisko Development is worth a serious look from potential investors.
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