Mercer International (NASDAQ:MERC) Price Target Cut to $1.50 by Analysts at TD Securities

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price objective reduced by TD Securities from $2.25 to $1.50 in a research report sent to investors on Tuesday morning, MarketBeat.com reports. TD Securities currently has a hold rating on the basic materials company’s stock.

MERC has been the topic of a number of other research reports. TD Cowen cut shares of Mercer International from a “hold” rating to a “sell” rating and upped their target price for the company from $2.00 to $2.25 in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a research report on Monday, December 29th. Finally, Royal Bank Of Canada dropped their target price on shares of Mercer International from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Monday, November 10th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Mercer International currently has a consensus rating of “Reduce” and an average target price of $2.95.

Mercer International Price Performance

NASDAQ:MERC opened at $2.09 on Tuesday. The stock has a 50 day moving average of $2.13 and a two-hundred day moving average of $2.41. Mercer International has a 12 month low of $1.48 and a 12 month high of $8.28. The firm has a market cap of $139.99 million, a P/E ratio of -0.28 and a beta of 0.72. The company has a current ratio of 3.05, a quick ratio of 1.79 and a debt-to-equity ratio of 23.58.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its earnings results on Thursday, February 12th. The basic materials company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.51). Mercer International had a negative return on equity of 81.16% and a negative net margin of 26.65%.The business had revenue of $449.50 million for the quarter, compared to analyst estimates of $459.84 million. On average, analysts expect that Mercer International will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mercer International

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings 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. Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International in the 2nd quarter valued at about $244,000. Millennium Management LLC grew its stake in Mercer International by 16.1% during the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after buying an additional 137,906 shares during the last quarter. Jump Financial LLC grew 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 worth $969,000 after buying an additional 214,008 shares during the last quarter. Finally, Iat Reinsurance Co. LTD. increased its position in 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 buying an additional 220,000 shares during the period. 85.79% of the stock is owned by hedge funds and other 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.