Analysts Set Mercer International Inc. (NASDAQ:MERC) Price Target at $3.50

Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have received an average rating of “Reduce” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $3.50.

A number of analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 29th. Royal Bank Of Canada decreased their price target on Mercer International from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Monday, November 10th.

Mercer International Price Performance

Shares of NASDAQ:MERC opened at $2.79 on Friday. The stock’s 50 day moving average is $1.98 and its 200-day moving average is $2.67. Mercer International has a twelve month low of $1.48 and a twelve month high of $8.28. The company has a quick ratio of 1.68, a current ratio of 3.01 and a debt-to-equity ratio of 4.30. The firm has a market capitalization of $186.88 million, a price-to-earnings ratio of -1.08 and a beta of 0.69.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.08). The business had revenue of $458.07 million for the quarter, compared to analyst estimates of $482.70 million. Mercer International had a negative return on equity of 37.38% and a negative net margin of 9.04%. Sell-side analysts forecast that Mercer International will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at Mercer International

In other news, major shareholder Peter R. Kellogg purchased 295,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average cost of $1.69 per share, for a total transaction of $498,550.00. Following the completion of the acquisition, the insider owned 1,520,000 shares in the company, valued at $2,568,800. This trade represents a 24.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 1,007,718 shares of company stock worth $1,860,644 over the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Trading of Mercer International

Institutional investors and hedge funds have recently modified their holdings of the business. Gabelli Funds LLC purchased a new position in Mercer International in the second quarter worth $1,804,000. Iat Reinsurance Co. LTD. raised its stake 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 purchasing an additional 220,000 shares during the period. Jump Financial LLC boosted its holdings 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. Millennium Management LLC grew its position 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 period. Finally, Gamco Investors INC. ET AL purchased a new stake in Mercer International during the second quarter worth about $244,000. 85.79% of the stock is 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.