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Osisko Development ( (TSE:ODV) ) has issued an announcement.
Osisko Development Corp. has entered into an agreement to sell its San Antonio Gold Project in Mexico to Axo Copper Corp. The transaction involves Osisko receiving a 9.99% stake in Axo and contingent payments based on future project milestones. This move aligns with Osisko’s strategy to focus on priority development assets, while Axo is expected to advance the San Antonio Project. The project has been in care and maintenance since 2023 and is not considered a material property for Osisko.
The most recent analyst rating on (TSE:ODV) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Osisko Development stock, see the TSE:ODV Stock Forecast page.
Spark’s Take on TSE:ODV Stock
According to Spark, TipRanks’ AI Analyst, TSE:ODV is a Neutral.
The overall stock score is primarily influenced by the company’s weak financial performance, characterized by declining revenues and negative profitability. Technical analysis provides some support with short-term bullish momentum, but valuation concerns due to negative earnings and lack of dividends weigh heavily. The absence of earnings call and corporate events data means these factors do not influence the score.
To see Spark’s full report on TSE:ODV stock, click here.
More about Osisko Development
Osisko Development Corp. is a North American gold development company focusing on past-producing mining camps in mining-friendly jurisdictions with district-scale potential. The company aims to become an intermediate gold producer by advancing its flagship Cariboo Gold Project in Canada and the Tintic Project in Utah, USA, which are brownfield properties with significant exploration potential.
YTD Price Performance: 89.13%
Average Trading Volume: 160,535
Technical Sentiment Signal: Buy
Current Market Cap: C$1.11B
See more insights into ODV stock on TipRanks’ Stock Analysis page.