Royal Bank Of Canada Lowers Mercer International (NASDAQ:MERC) Price Target to $0.75

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price target cut by equities research analysts at Royal Bank Of Canada from $1.00 to $0.75 in a research note issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 15.38% from the stock’s current price.

Several other equities research analysts also recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. TD reaffirmed a “sell” rating on shares of Mercer International in a report on Tuesday. Finally, Wall Street Zen raised shares of Mercer International from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Two research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Mercer International currently has an average rating of “Strong Sell” and a consensus target price of $1.80.

Mercer International Trading Down 3.0%

MERC stock traded down $0.02 during midday trading on Friday, reaching $0.65. 194,201 shares of the company’s stock traded hands, compared to its average volume of 604,940. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22. Mercer International has a fifty-two week low of $0.53 and a fifty-two week high of $4.47. The business has a 50-day moving average price of $0.82 and a two-hundred day moving average price of $1.41. The company has a market capitalization of $43.54 million, a P/E ratio of -0.08 and a beta of 0.52.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its earnings results on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.04). Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. The business had revenue of $489.30 million for the quarter, compared to analyst estimates of $493.00 million. Equities research analysts forecast that Mercer International will post -2.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Peter R. Kellogg acquired 51,441 shares of the business’s stock in a transaction on Friday, June 12th. The shares were purchased at an average price of $0.92 per share, for a total transaction of $47,325.72. Following the completion of the purchase, the insider directly owned 1,385,672 shares of the company’s stock, valued at $1,274,818.24. This represents a 3.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 1,383,743 shares of company stock valued at $1,264,565 over the last three months. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Mercer International

Several institutional investors and hedge funds have recently made changes to their positions in MERC. Millennium Management LLC increased 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 purchasing an additional 137,906 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 during the last quarter. Gabelli Funds LLC bought a new stake in shares of Mercer International during the 2nd quarter valued at about $1,804,000. Jump Financial LLC raised its stake in Mercer International by 340.6% during the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after acquiring an additional 214,008 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new stake in Mercer International during the second quarter worth about $244,000. 85.79% of the stock is owned by institutional investors and hedge funds.

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.