TD Securities upgraded shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a hold rating to a buy rating in a research note released on Wednesday, MarketBeat.com reports. TD Securities currently has $20.00 target price on the basic materials company’s stock, up from their previous target price of $15.00.

Other research analysts also recently issued research reports about the company. ValuEngine upgraded Mercer International from a hold rating to a buy rating in a research note on Tuesday, May 22nd. BidaskClub upgraded Mercer International from a hold rating to a buy rating in a research note on Saturday, May 19th. Credit Suisse Group upgraded Mercer International from a neutral rating to an outperform rating in a research note on Friday, May 11th. Finally, Royal Bank of Canada raised their price target on Mercer International to $17.00 and gave the stock an outperform rating in a research note on Monday, May 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $17.33.

Mercer International opened at $16.90 on Wednesday, MarketBeat.com reports. The company has a market cap of $1.10 billion, a P/E ratio of 12.80 and a beta of 1.67. The company has a current ratio of 4.14, a quick ratio of 2.92 and a debt-to-equity ratio of 1.22. Mercer International has a 52-week low of $10.45 and a 52-week high of $17.60.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings results on Thursday, May 3rd. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The firm had revenue of $367.90 million for the quarter, compared to the consensus estimate of $358.50 million. Mercer International had a return on equity of 16.63% and a net margin of 6.68%. The company’s quarterly revenue was up 51.5% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 6th. Shareholders of record on Wednesday, June 27th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, June 26th. This represents a $0.50 annualized dividend and a dividend yield of 2.96%.

In other Mercer International news, Director Eric Lauritzen sold 11,200 shares of Mercer International stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $15.93, for a total value of $178,416.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Thrivent Financial For Lutherans purchased a new position in shares of Mercer International in the 4th quarter valued at approximately $963,000. Bogle Investment Management L P DE purchased a new position in shares of Mercer International in the 4th quarter valued at approximately $1,242,000. Thrivent Financial for Lutherans grew its stake in shares of Mercer International by 51.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 101,837 shares of the basic materials company’s stock valued at $1,268,000 after purchasing an additional 34,507 shares during the last quarter. Opus Capital Group LLC purchased a new position in shares of Mercer International in the 1st quarter valued at approximately $2,008,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of Mercer International in the 4th quarter valued at approximately $4,736,000. Institutional investors own 76.27% of the company’s stock.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood Kraft (NBSK) pulp in the United States, Europe, Asia, and internationally. The company operates in two segments, Pulp and Wood Products. It produces NBSK pulp primarily from wood chips and pulp logs; carbon neutral or green energy using carbon-neutral bio-fuels, such as black liquor and wood waste; and tall oil for use as a chemical additive and green energy source.

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