2024-06-26 08:21:37 ET
Summary
- Reiterated "Hold" rating for Osisko Development Corp.
- Positive correlation between ODV stock prices and gold prices.
- Performance of ODV shares underperformed since the last rating, but there is a potential for a reversal in trend based on Fed interest rate policy.
- The Osisko share is influenced by traders' expectations of an interest rate cut by the US FED as the main trigger for changes in the gold price.
- Until the Fed pivots, raising the likelihood of the flagship Cariboo Gold project in BC, which bodes well for the stock price trend to return to positive, it is still possible for the investor in ODV to make a positive return if his holdings are adjusted as gold price changes.
Another “Hold” Rating for Osisko Development Corp.
This analysis reiterates a Hold rating for Osisko Development Corp. ( ODV ), a Montreal, Canada-based gold exploration and development company with the goal of one day building a gold mine from its flagship Cariboo Gold Project in British Columbia, Canada.
The Previous Rating of Hold
The previous article also gave a "Hold" rating to Osisko Development as, in light of a positive correlation with changes in the gold price, the shares were seen to have a chance to post significant upside on events that normally generate tailwinds for the yellow metal, such as the risk of economic slowdown or expectations of a Federal Reserve (or “FED”) policy of lower interest rates....
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For further details see:
Osisko Development: Gold's Cyclical Is Your Friend, Lower Prices In Sight