Brokerages Set Mercer International Inc. (NASDAQ:MERC) PT at $2.95

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) has earned an average recommendation of “Reduce” from the six brokerages that are currently covering the firm, 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 twelve-month price objective among brokerages that have covered the stock in the last year is $2.95.

A number of equities analysts have commented on MERC shares. TD Cowen lowered Mercer International from a “hold” rating to a “sell” rating and raised their price objective for the stock from $2.00 to $2.25 in a research note on Wednesday, January 21st. TD Securities lowered Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Monday, December 29th.

Institutional Investors Weigh In On Mercer International

A number of large investors have recently bought and sold shares of the company. Iat Reinsurance Co. LTD. raised its position in shares of Mercer International by 1.3% in 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 buying an additional 220,000 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of 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 acquiring an additional 137,906 shares during the period. Geode Capital Management LLC boosted its position in shares of Mercer International by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock worth $1,111,000 after acquiring an additional 14,603 shares in the last quarter. Gabelli Funds LLC acquired a new stake in shares of Mercer International during the 2nd quarter worth approximately $1,804,000. Finally, Jump Financial LLC increased its stake in Mercer International by 340.6% in the second 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 last quarter. 85.79% of the stock is currently owned by institutional investors and hedge funds.

Mercer International Stock Performance

Shares of NASDAQ:MERC opened at $1.34 on Friday. The company’s 50 day moving average price is $1.82 and its two-hundred day moving average price is $2.11. Mercer International has a 12-month low of $1.23 and a 12-month high of $6.48. The firm has a market cap of $89.76 million, a PE ratio of -0.18 and a beta of 0.68. The company has a quick ratio of 1.79, a current ratio of 3.05 and a debt-to-equity ratio of 23.58.

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

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.