Mercer International (NASDAQ:MERC) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a sell rating to a strong sell rating in a report issued on Saturday.

Several other analysts have also commented on the stock. Royal Bank Of Canada lowered their price objective on shares of Mercer International from $1.00 to $0.75 and set a “sector perform” rating for the company in a report on Friday. TD reissued a “sell” rating on shares of Mercer International in a research report on Tuesday, July 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Strong Sell” and a consensus target price of $1.80.

Mercer International Stock Down 1.4%

Shares of NASDAQ MERC opened at $0.65 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.22 and a debt-to-equity ratio of 23.58. Mercer International has a 12 month low of $0.53 and a 12 month high of $4.47. The firm has a market capitalization of $43.36 million, a PE ratio of -0.08 and a beta of 0.52. The firm has a fifty day simple moving average of $0.81 and a two-hundred day simple moving average of $1.39.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its 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). Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%.The company had revenue of $489.30 million during the quarter, compared to analysts’ expectations of $493.00 million. Equities analysts expect that Mercer International will post -2.21 earnings per share for the current year.

Insider Activity

In other Mercer International news, major shareholder Peter R. Kellogg purchased 380,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average cost of $0.96 per share, with a total value of $364,800.00. Following the transaction, the insider directly owned 1,852,000 shares in the company, valued at approximately $1,777,920. The trade was a 25.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 1,383,743 shares of company stock valued at $1,264,565. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mercer International

A number of institutional investors and hedge funds have recently made changes to their positions in MERC. Gamco Investors INC. ET AL bought a new stake in shares of Mercer International in the 2nd quarter worth approximately $244,000. Jump Financial LLC grew its stake in shares of Mercer International by 340.6% in 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. Geode Capital Management LLC increased its position in 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 valued at $1,111,000 after buying an additional 14,603 shares in the last quarter. Gabelli Funds LLC bought a new position in Mercer International during the 2nd quarter valued at approximately $1,804,000. Finally, Millennium Management LLC raised its stake in Mercer International by 16.1% during the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after buying an additional 137,906 shares during the last quarter. Institutional investors own 85.79% of the company’s stock.

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.