TD Securities Cuts Mercer International (NASDAQ:MERC) Price Target to $1.50

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price target cut by stock analysts at TD Securities from $2.25 to $1.50 in a report released on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the basic materials company’s stock. TD Securities’ price target suggests a potential downside of 21.67% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. TD Cowen downgraded Mercer International from a “hold” rating to a “sell” rating and boosted their price target for the company from $2.00 to $2.25 in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 29th. Finally, Royal Bank Of Canada cut their target price on Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $2.95.

Mercer International Stock Up 7.6%

Shares of NASDAQ:MERC traded up $0.14 during mid-day trading on Tuesday, hitting $1.92. 1,692,915 shares of the company traded hands, compared to its average volume of 722,656. The firm’s 50 day simple moving average is $2.12 and its 200 day simple moving average is $2.42. The firm has a market cap of $128.27 million, a P/E ratio of -0.26 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 debt-to-equity ratio of 23.58, a quick ratio of 1.79 and a current ratio of 3.05.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings data 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). Mercer International had a negative net margin of 26.65% and a negative return on equity of 81.16%. The firm had revenue of $449.50 million during the quarter, compared to analysts’ expectations of $459.84 million. On average, equities analysts anticipate that Mercer International will post -0.29 EPS for the current year.

Institutional Trading of Mercer International

Hedge funds and other institutional investors have recently modified their holdings of the company. Gamco Investors INC. ET AL bought a new stake in shares of Mercer International in the 2nd quarter valued at approximately $244,000. Jump Financial LLC raised its position in shares of 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 purchasing an additional 214,008 shares during the period. Geode Capital Management LLC grew its stake in Mercer International by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock valued at $1,111,000 after buying an additional 14,603 shares during the last quarter. Gabelli Funds LLC bought a new stake in Mercer International during the second quarter valued at about $1,804,000. Finally, Millennium Management LLC lifted 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 purchasing an additional 137,906 shares during the last quarter. 85.79% of the stock is currently 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.