10:32 AM EDT, 04/02/2024 (MT Newswires) -- National Bank of Canada said Monday that it ascribed a neutral bias to Osisko Development Corp. ( ODV ) 's financial results for the fourth quarter of 2023. Funding, the bank said, is "sufficient over the medium term" with focus on Cariboo permitting, and ongoing exploration updates at Tintic.

The bank noted sales and liquidity eased quarter over quarter on a lower cash balance. "Warrants offer potential to unlock additional revenue, strike well out of the money yet some have multi-years to expiry."

In NBF's view: Cariboo development financing to follow go-forward decision and could be partially covered by a JV, gold prepay or a combination of financing options.

The bank kept Osisko on an Outperform rating with a $6.00 price target.

Price: 2.90, Change: +0.02, Percent Change: +0.69