Mercer International Inc. (NASDAQ:MERC) Given Average Recommendation of “Strong Sell” by Brokerages

Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have been assigned an average recommendation of “Strong Sell” from the six analysts that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $1.85.

MERC has been the topic of several research analyst reports. TD Securities downgraded Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Friday, March 27th. TD cut their price target on Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a report on Monday, May 11th. Finally, Royal Bank Of Canada cut their price target on Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a report on Monday, May 11th.

Mercer International Stock Performance

Shares of Mercer International stock opened at $1.04 on Friday. Mercer International has a 52 week low of $0.75 and a 52 week high of $4.47. The business’s fifty day simple moving average is $1.18 and its 200-day simple moving average is $1.69. The firm has a market cap of $69.66 million, a PE ratio of -0.13 and a beta of 0.53. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.04). The business had revenue of $489.30 million during the quarter, compared to analyst estimates of $493.00 million. Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. Equities analysts forecast that Mercer International will post -2.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Peter R. Kellogg purchased 105,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $0.97 per share, for a total transaction of $101,850.00. Following the acquisition, the insider directly owned 1,957,000 shares in the company, valued at $1,898,290. This trade represents a 5.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 1,001,000 shares of company stock worth $934,800. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mercer International

Large investors have recently bought and sold shares of the stock. Iat Reinsurance Co. LTD. boosted its position in shares of 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 worth $48,096,000 after acquiring an additional 220,000 shares in the last quarter. Millennium Management LLC boosted its position 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 in the last quarter. 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 position in shares of Mercer International during the 2nd quarter worth about $1,804,000. Finally, Jump Financial LLC boosted its position in shares of 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 acquiring an additional 214,008 shares in the last quarter. Hedge funds and other institutional investors 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.