Mercer International Inc. (NASDAQ:MERC) Receives $3.10 Consensus Price Target from Brokerages

Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have been given an average rating of “Reduce” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $3.10.

MERC has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 29th. Royal Bank Of Canada cut their price objective on shares of Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Monday, November 10th. TD Cowen lowered Mercer International from a “hold” rating to a “sell” rating and boosted their price target for the stock from $2.00 to $2.25 in a research report on Wednesday, January 21st. Finally, TD Securities lowered shares of Mercer International from a “hold” rating to a “sell” rating and raised their price objective for the company from $2.00 to $2.25 in a research note on Wednesday, January 21st.

Insider Buying and Selling at Mercer International

In related news, major shareholder Peter R. Kellogg bought 225,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $1.73 per share, for a total transaction of $389,250.00. Following the acquisition, the insider directly owned 1,320,000 shares of the company’s stock, valued at $2,283,600. The trade was a 20.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mercer International

Institutional investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL bought a new stake in shares of Mercer International in the 2nd quarter valued at approximately $244,000. Jump Financial LLC raised its holdings 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 lifted its stake in shares of 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 purchasing an additional 14,603 shares during the last quarter. Gabelli Funds LLC acquired a new stake in shares of Mercer International in the 2nd quarter valued at $1,804,000. Finally, Millennium Management LLC boosted its holdings in 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 purchasing an additional 137,906 shares in the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.

Mercer International Stock Up 7.1%

Shares of Mercer International stock opened at $1.81 on Thursday. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.01 and a quick ratio of 1.68. Mercer International has a 1-year low of $1.48 and a 1-year high of $8.28. The business has a 50-day moving average of $2.13 and a 200-day moving average of $2.50. The company has a market capitalization of $121.23 million, a PE ratio of -0.70 and a beta of 0.72.

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.