Royal Bank Of Canada Upgrades Mercer International Inc. (MERC) to Outperform
Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) was upgraded by investment analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a report released on Wednesday, The Fly reports.
Several other analysts have also recently issued reports on the company. BidaskClub upgraded Mercer International from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. TD Securities upped their price objective on Mercer International from $13.00 to $15.75 and gave the company a “hold” rating in a research note on Monday, July 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $15.25.
Mercer International (NASDAQ:MERC) traded down 0.37% on Wednesday, hitting $13.50. The stock had a trading volume of 319,206 shares. The company’s 50 day moving average is $11.64 and its 200 day moving average is $11.51. Mercer International has a 12-month low of $7.60 and a 12-month high of $13.74. The firm has a market cap of $877.14 million, a PE ratio of 23.00 and a beta of 1.49.
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In other Mercer International news, Director James Shepherd sold 4,560 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $10.91, for a total transaction of $49,749.60. Following the sale, the director now owns 31,450 shares in the company, valued at $343,119.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric Lauritzen sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $12.22, for a total value of $158,860.00. Following the sale, the director now owns 69,085 shares in the company, valued at approximately $844,218.70. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 2,858,743 shares of company stock worth $35,311,751 and have sold 172,560 shares worth $1,960,910. Corporate insiders own 4.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC raised its stake in Mercer International by 9.3% during the second quarter. Parametric Portfolio Associates LLC now owns 19,478 shares of the basic materials company’s stock valued at $224,000 after buying an additional 1,654 shares in the last quarter. Renaissance Group LLC grew its holdings in shares of Mercer International by 9.7% during the second quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock valued at $449,000 after purchasing an additional 3,434 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Mercer International by 3.0% during the first quarter. Geode Capital Management LLC now owns 283,990 shares of the basic materials company’s stock valued at $3,322,000 after purchasing an additional 8,231 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Mercer International by 11.0% during the second quarter. Bank of New York Mellon Corp now owns 240,556 shares of the basic materials company’s stock valued at $2,767,000 after purchasing an additional 23,872 shares during the last quarter. Finally, Nationwide Fund Advisors grew its holdings in shares of Mercer International by 16.5% during the second quarter. Nationwide Fund Advisors now owns 216,961 shares of the basic materials company’s stock valued at $2,495,000 after purchasing an additional 30,661 shares during the last quarter. Hedge funds and other institutional investors own 80.15% of the company’s stock.
Mercer International Company Profile
Mercer International Inc is a producer of northern bleached softwood kraft (NBSK) pulp, which is pulp that is sold on the open market. The Company also produces and sells tall oil, a by-product of its production process, which is used as both a chemical additive and as a green energy source. It produces and sells NBSK pulp, which is a bleached kraft pulp manufactured using northern softwood.
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