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

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) has earned an average rating of “Reduce” from the six research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $2.95.

MERC has been the subject of a number of research reports. TD Cowen cut Mercer International from a “hold” rating to a “sell” rating and lifted their price objective for the company from $2.00 to $2.25 in a research note on Wednesday, January 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research note on Monday, December 29th. Finally, TD Securities cut Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL acquired a new position in shares of Mercer International in the second quarter valued at approximately $244,000. Jump Financial LLC lifted its holdings in 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 buying an additional 214,008 shares in the last quarter. Gabelli Funds LLC purchased a new position in Mercer International in the 2nd quarter valued at approximately $1,804,000. Geode Capital Management LLC boosted its position 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 period. Finally, Millennium Management LLC grew its stake in shares of Mercer International by 16.1% in the third 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. Institutional investors and hedge funds own 85.79% of the company’s stock.

Mercer International Price Performance

Mercer International stock opened at $1.30 on Friday. The company has a market capitalization of $87.08 million, a PE ratio of -0.17 and a beta of 0.68. 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 has a fifty-two week low of $1.23 and a fifty-two week high of $6.53. The firm has a 50 day moving average price of $1.85 and a 200 day moving average price of $2.14.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings results on Thursday, February 12th. The basic materials company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.51). Mercer International had a negative return on equity of 81.16% and a negative net margin of 26.65%.The firm had revenue of $449.50 million for the quarter, compared to analyst estimates of $459.84 million. Research analysts expect that Mercer International will post -0.29 earnings per share for the current year.

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.