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

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) has been given a consensus recommendation of “Reduce” by the five research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $3.50.

MERC has been the topic of several research analyst reports. Royal Bank Of Canada lowered their target price on shares of Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research note on Monday, December 29th.

Insider Buying and Selling

In other news, major shareholder Peter R. Kellogg purchased 295,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average price of $1.69 per share, for a total transaction of $498,550.00. Following the acquisition, the insider directly owned 1,520,000 shares of the company’s stock, valued at $2,568,800. This represents a 24.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 1,007,718 shares of company stock worth $1,860,644 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gamco Investors INC. ET AL bought a new stake in Mercer International in the second quarter worth $244,000. Jump Financial LLC increased 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. Gabelli Funds LLC purchased a new stake in shares of Mercer International during the 2nd quarter valued at about $1,804,000. Millennium Management LLC raised its position in shares of Mercer International by 16.1% during the 3rd 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 in the last quarter. Finally, Iat Reinsurance Co. LTD. lifted its holdings in shares of Mercer International by 1.3% in the 3rd quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock valued at $48,096,000 after acquiring an additional 220,000 shares during the last quarter. 85.79% of the stock is owned by hedge funds and other institutional investors.

Mercer International Price Performance

NASDAQ:MERC opened at $2.74 on Friday. 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 business’s 50-day simple moving average is $1.96 and its two-hundred day simple moving average is $2.68. The stock has a market cap of $183.53 million, a PE ratio of -1.06 and a beta of 0.69. Mercer International has a 52 week low of $1.48 and a 52 week high of $8.28.

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