Mercer International Inc. (NASDAQ:MERC) Receives $1.20 Average Target Price from Brokerages

Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have been assigned a consensus recommendation of “Strong Sell” from the six analysts that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $1.20.

Several equities analysts have recently commented on MERC shares. Wall Street Zen downgraded shares of Mercer International from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Canadian Imperial Bank of Commerce cut their target price on Mercer International from $1.50 to $1.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Royal Bank Of Canada reduced their price target on Mercer International from $1.00 to $0.75 and set a “sector perform” rating on the stock in a report on Friday, July 17th. TD restated a “sell” rating on shares of Mercer International in a report on Tuesday, July 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th.

Insider Buying and Selling at Mercer International

In other Mercer International news, major shareholder Peter R. Kellogg bought 51,441 shares of Mercer International stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $0.92 per share, with a total value of $47,325.72. Following the completion of the purchase, the insider owned 1,385,672 shares of the company’s stock, valued at approximately $1,274,818.24. This represents a 3.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders purchased 1,383,743 shares of company stock valued at $1,264,565. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of Mercer International

Large investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL bought a new position in Mercer International in the 2nd quarter worth $244,000. Jump Financial LLC boosted its stake in shares of Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after purchasing an additional 214,008 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 purchasing an additional 14,603 shares in the last quarter. Gabelli Funds LLC purchased a new position in shares of Mercer International during the second quarter valued at about $1,804,000. Finally, Millennium Management LLC increased its position in shares of 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. Institutional investors own 85.79% of the company’s stock.

Mercer International Stock Down 4.5%

Shares of Mercer International stock opened at $0.68 on Thursday. The company has a debt-to-equity ratio of 23.58, a quick ratio of 1.22 and a current ratio of 2.17. Mercer International has a 52-week low of $0.53 and a 52-week high of $3.38. The company’s 50 day moving average price is $0.74 and its 200-day moving average price is $1.24. The stock has a market capitalization of $45.34 million, a price-to-earnings ratio of -0.09 and a beta of 0.53.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.04). The firm had revenue of $489.30 million for the quarter, compared to the consensus estimate of $493.00 million. Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. Equities research analysts forecast that Mercer International will post -3.1 EPS 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.