Mercer International Inc. (NASDAQ:MERC) Receives $3.10 Average PT from Analysts

Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have been assigned a consensus recommendation of “Reduce” from the six analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $3.10.

A number of research firms have commented on MERC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research note on Monday, December 29th. TD Securities downgraded shares of Mercer International from a “hold” rating to a “sell” rating and boosted their target price for the stock from $2.00 to $2.25 in a research report on Wednesday, January 21st. TD Cowen lowered shares of Mercer International from a “hold” rating to a “sell” rating and upped their price target for the company from $2.00 to $2.25 in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada lowered their price objective on shares of 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 Trading Up 0.6%

NASDAQ:MERC opened at $1.69 on Thursday. The stock has a market capitalization of $113.20 million, a price-to-earnings ratio of -0.66 and a beta of 0.72. Mercer International has a 52 week low of $1.48 and a 52 week high of $8.28. The company has a quick ratio of 1.68, a current ratio of 3.01 and a debt-to-equity ratio of 4.30. The firm has a 50 day moving average of $2.13 and a 200 day moving average of $2.52.

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

Insider Buying and Selling

In other news, major shareholder Peter R. Kellogg purchased 225,000 shares of the stock in a transaction on Thursday, November 13th. The stock was bought at an average price of $1.73 per share, with a total value of $389,250.00. Following the transaction, the insider owned 1,320,000 shares in the company, valued at $2,283,600. The trade was a 20.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Mercer International

Institutional investors and hedge funds have recently modified their holdings of the company. Gamco Investors INC. ET AL acquired a new position in Mercer International in the 2nd quarter worth approximately $244,000. Jump Financial LLC lifted its stake in Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after acquiring an additional 214,008 shares during the period. Gabelli Funds LLC purchased a new stake in shares of Mercer International in the 2nd quarter valued at $1,804,000. Millennium Management LLC increased its stake in shares of Mercer International by 16.1% in the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after acquiring an additional 137,906 shares during the period. Finally, Iat Reinsurance Co. LTD. raised its holdings in shares of Mercer International by 1.3% during the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock worth $48,096,000 after purchasing an additional 220,000 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.

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.