Mercer International (NASDAQ:MERC) Cut to Strong Sell at TD Securities

TD Securities cut shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also commented on MERC. TD Cowen lowered shares of Mercer International from a “hold” rating to a “sell” rating and lifted their price target for the stock from $2.00 to $2.25 in a report on Wednesday, January 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research note on Monday, December 29th. Finally, Royal Bank Of Canada reduced their target price on Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Monday, November 10th. Three research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Mercer International has an average rating of “Reduce” and a consensus target price of $2.95.

Mercer International Stock Performance

Shares of MERC stock opened at $2.06 on Wednesday. The firm has a market capitalization of $137.98 million, a price-to-earnings ratio of -0.28 and a beta of 0.72. The company has a current ratio of 3.05, a quick ratio of 1.79 and a debt-to-equity ratio of 23.58. The business’s 50-day moving average price is $2.13 and its 200-day moving average price is $2.40. Mercer International has a 12 month low of $1.48 and a 12 month high of $8.28.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings data on Thursday, February 12th. The basic materials company reported ($1.39) earnings per share (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. Equities research analysts forecast that Mercer International will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Mercer International

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in 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 worth $1,111,000 after purchasing an additional 14,603 shares in the last quarter. Millennium Management LLC raised its position in Mercer International by 16.1% in 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 during the last quarter. Iat Reinsurance Co. LTD. raised its position 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 last quarter. Gabelli Funds LLC bought a new position in Mercer International during the 2nd quarter valued at $1,804,000. Finally, Gamco Investors INC. ET AL purchased a new position in Mercer International during the 2nd quarter worth $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.