Brokerages Set Mercer International Inc. (NASDAQ:MERC) PT at $2.80

Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have been assigned a consensus rating of “Reduce” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $2.80.

Several research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a research note on Friday, March 27th. TD Cowen lowered shares of Mercer International from a “hold” rating to a “sell” rating and lifted their price objective for the stock from $2.00 to $2.25 in a research note on Wednesday, January 21st. TD Securities lowered shares of Mercer International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada dropped their price objective on shares of Mercer International from $2.00 to $1.25 and set a “sector perform” rating for the company in a research note on Thursday, April 16th.

Institutional Trading of Mercer International

Several institutional investors and hedge funds have recently made changes to their positions in the business. Iat Reinsurance Co. LTD. lifted its position 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. Millennium Management LLC lifted its position in shares of Mercer International by 16.1% during the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after purchasing an additional 137,906 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Mercer International by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock worth $1,111,000 after purchasing an additional 14,603 shares during the last quarter. Gabelli Funds LLC bought a new stake in shares of Mercer International during the second quarter worth $1,804,000. Finally, Jump Financial LLC lifted its position in shares of 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 purchasing an additional 214,008 shares during the last quarter. 85.79% of the stock is currently owned by institutional investors.

Mercer International Stock Up 2.6%

NASDAQ MERC opened at $1.17 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 3.05 and a debt-to-equity ratio of 23.58. The company has a fifty day moving average of $1.50 and a two-hundred day moving average of $1.90. The firm has a market capitalization of $78.37 million, a price-to-earnings ratio of -0.16 and a beta of 0.77. Mercer International has a 52 week low of $1.00 and a 52 week high of $4.71.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings data on Thursday, February 12th. The basic materials company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.51). The firm had revenue of $449.50 million for the quarter, compared to analysts’ expectations of $459.84 million. Mercer International had a negative return on equity of 81.16% and a negative net margin of 26.65%. On average, analysts predict that Mercer International will post -2.26 earnings per share for the current year.

About Mercer International

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.