Mercer International (NASDAQ:MERC) Price Target Cut to $0.75 by Analysts at Royal Bank Of Canada

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price target cut by Royal Bank Of Canada from $1.00 to $0.75 in a research report released on Friday,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

MERC has been the subject of several other research reports. TD reissued a “sell” rating on shares of Mercer International in a report on Tuesday. Wall Street Zen raised Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average price target of $1.80.

Mercer International Stock Performance

NASDAQ:MERC opened at $0.66 on Friday. The business has a 50 day moving average price of $0.82 and a 200-day moving average price of $1.40. Mercer International has a fifty-two week low of $0.53 and a fifty-two week high of $4.47. The firm has a market cap of $43.99 million, a PE ratio of -0.08 and a beta of 0.52. The company has a debt-to-equity ratio of 23.58, a quick ratio of 1.22 and a current ratio of 2.17.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.04). Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%.The company had revenue of $489.30 million during the quarter, compared to analysts’ expectations of $493.00 million. Equities research analysts predict that Mercer International will post -2.21 earnings per share for the current year.

Insider Buying and Selling at Mercer International

In related news, major shareholder Peter R. Kellogg bought 380,000 shares of the stock in a transaction dated Monday, May 18th. The shares were purchased at an average price of $0.96 per share, for a total transaction of $364,800.00. Following the completion of the purchase, the insider directly owned 1,852,000 shares of the company’s stock, valued at $1,777,920. This represents a 25.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders bought 1,383,743 shares of company stock worth $1,264,565. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Mercer International

Several hedge funds and other institutional investors have recently made changes to their positions in MERC. Millennium Management LLC grew its holdings 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 14,603 shares during the last quarter. Gabelli Funds LLC acquired a new stake in shares of Mercer International during the 2nd quarter worth approximately $1,804,000. Jump Financial LLC raised its position 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 buying an additional 214,008 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Mercer International during the 2nd quarter valued at approximately $244,000. Hedge funds and other institutional investors 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.