Brokerages Set Mercer International Inc. (NASDAQ:MERC) PT at $3.50

Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have received an average recommendation of “Reduce” from the five ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $3.50.

Several analysts recently weighed in on MERC shares. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Monday, December 29th. Royal Bank Of Canada lowered their target price on Mercer International from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Monday, November 10th.

Mercer International Price Performance

Shares of NASDAQ:MERC opened at $2.59 on Friday. The firm has a 50 day moving average of $1.93 and a 200-day moving average of $2.68. Mercer International has a 12 month low of $1.48 and a 12 month high of $8.28. The company has a current ratio of 3.01, a quick ratio of 1.68 and a debt-to-equity ratio of 4.30. The stock has a market capitalization of $173.48 million, a PE ratio of -1.00 and a beta of 0.69.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.08). Mercer International had a negative net margin of 9.04% and a negative return on equity of 37.38%. The firm had revenue of $458.07 million during the quarter, compared to the consensus estimate of $482.70 million. On average, equities research analysts predict that Mercer International will post -0.29 EPS for the current fiscal year.

Insider Transactions at Mercer International

In related news, major shareholder Peter R. Kellogg acquired 295,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was acquired at an average price of $1.69 per share, with a total value of $498,550.00. Following the purchase, the insider directly owned 1,520,000 shares in the company, valued at approximately $2,568,800. This trade represents a 24.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have purchased 1,007,718 shares of company stock worth $1,860,644. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Iat Reinsurance Co. LTD. increased its position in Mercer International by 1.3% during the 3rd quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock valued at $48,096,000 after purchasing an additional 220,000 shares during the period. Millennium Management LLC boosted its stake in shares of Mercer International by 16.1% in the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after purchasing an additional 137,906 shares during the last quarter. Gabelli Funds LLC acquired a new stake in shares of Mercer International during the second quarter worth $1,804,000. Jump Financial LLC raised its stake in Mercer International by 340.6% during the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after buying an additional 214,008 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in Mercer International during the second quarter worth $244,000. 85.79% of the stock is currently owned by institutional investors.

Mercer International Company Profile

Mercer International Inc is a publicly traded pulp producer headquartered in Vancouver, British Columbia. Listed on the NASDAQ under the symbol MERC, the company specializes in the manufacture of Northern Bleached Softwood Kraft (NBSK) pulp and dissolving pulp for use in tissue, specialty paper and textile applications.

Mercer’s core business activities include the operation of integrated pulp mills in North America and Europe. Its production portfolio encompasses NBSK pulp, renowned for its strength and versatility, and dissolving pulp, which serves as a key raw material in the manufacture of viscose, cellulose acetate and other specialty products.

The company’s facilities are located in British Columbia and the U.S.