TD Securities Issues Pessimistic Forecast for Mercer International (NASDAQ:MERC) Stock Price

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price objective dropped by investment analysts at TD Securities from $2.25 to $1.50 in a report released on Tuesday, MarketBeat reports. The brokerage presently has a “hold” rating on the basic materials company’s stock. TD Securities’ price target indicates a potential downside of 29.25% from the company’s current price.

MERC has been the topic of several other reports. Royal Bank Of Canada decreased their price target on shares of Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. TD Cowen lowered shares of Mercer International from a “hold” rating to a “sell” rating and raised their target price for the stock from $2.00 to $2.25 in a research note on Wednesday, January 21st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 29th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $2.95.

Mercer International Stock Performance

NASDAQ MERC opened at $2.12 on Tuesday. The company has a debt-to-equity ratio of 23.58, a current ratio of 3.05 and a quick ratio of 1.79. The stock’s 50 day simple moving average is $2.13 and its 200-day simple moving average is $2.41. The company has a market cap of $142.00 million, a PE ratio of -0.28 and a beta of 0.72. Mercer International has a 1-year low of $1.48 and a 1-year high of $8.28.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings data on Thursday, February 12th. The basic materials company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.51). Mercer International had a negative net margin of 26.65% and a negative return on equity of 81.16%. The firm had revenue of $449.50 million during the quarter, compared to analyst estimates of $459.84 million. As a group, equities research analysts anticipate that Mercer International will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Mercer International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in Mercer International by 2.7% in the fourth 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 period. Millennium Management LLC increased 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 worth $2,866,000 after purchasing an additional 137,906 shares during the last quarter. Iat Reinsurance Co. LTD. raised its holdings in 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 buying an additional 220,000 shares during the period. Gabelli Funds LLC acquired a new position in Mercer International in the second quarter valued at about $1,804,000. Finally, Gamco Investors INC. ET AL purchased a new position in Mercer International during the second quarter worth about $244,000. Institutional investors and hedge funds own 85.79% of the company’s stock.

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.