Mercer International Inc. (NASDAQ:MERC) Receives $1.85 Average Price Target from Brokerages

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) has earned an average rating of “Strong Sell” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $1.85.

MERC has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research report on Friday, March 27th. Royal Bank Of Canada dropped their target price on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a research report on Monday, May 11th. TD Securities downgraded shares of Mercer International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Finally, TD dropped their target price on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a research report on Monday, May 11th.

Mercer International Trading Up 1.0%

NASDAQ:MERC opened at $0.90 on Wednesday. The company has a market capitalization of $60.15 million, a PE ratio of -0.11 and a beta of 0.47. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58. Mercer International has a 52-week low of $0.75 and a 52-week high of $4.47. The stock has a fifty day simple moving average of $1.04 and a 200-day simple moving average of $1.61.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its earnings results on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.04). Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. The firm had revenue of $489.30 million during the quarter, compared to analyst estimates of $493.00 million. On average, equities research analysts expect that Mercer International will post -2.21 earnings per share for the current fiscal year.

Insider Transactions at Mercer International

In related news, major shareholder Peter R. Kellogg purchased 105,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $0.97 per share, for a total transaction of $101,850.00. Following the acquisition, the insider directly owned 1,957,000 shares in the company, valued at $1,898,290. The trade was a 5.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have purchased 1,000,000 shares of company stock worth $932,900. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mercer International

A number of hedge funds and other institutional investors have recently modified their holdings of MERC. Gabelli Funds LLC bought a new position in shares of Mercer International during the second quarter worth approximately $1,804,000. Iat Reinsurance Co. LTD. lifted its position in shares of Mercer International by 1.3% during the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock worth $48,096,000 after acquiring an additional 220,000 shares in the last quarter. Jump Financial LLC increased its stake in Mercer International by 340.6% in the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after acquiring an additional 214,008 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Mercer International by 16.1% during 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 during the period. Finally, Gamco Investors INC. ET AL purchased a new stake in Mercer International in the second quarter worth about $244,000. Institutional investors and hedge funds own 85.79% of the company’s stock.

About Mercer International

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.