Mercer International (NASDAQ:MERC) Major Shareholder Buys $58,396.50 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 64,885 shares of Mercer International stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $0.90 per share, for a total transaction of $58,396.50. Following the transaction, the insider owned 1,030,814 shares in the company, valued at approximately $927,732.60. This trade represents a 6.72% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Up 6.7%

Shares of MERC opened at $0.64 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.22 and a debt-to-equity ratio of 23.58. The firm has a market cap of $42.97 million, a P/E ratio of -0.08 and a beta of 0.52. The company’s 50-day moving average price is $0.86 and its 200 day moving average price is $1.45. Mercer International Inc. has a 12-month low of $0.58 and a 12-month high of $4.47.

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). The company had revenue of $489.30 million during the quarter, compared to analyst estimates of $493.00 million. Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%. On average, sell-side analysts forecast that Mercer International Inc. will post -2.21 earnings per share for the current year.

Institutional Trading of Mercer International

Several hedge funds have recently added to or reduced their stakes in MERC. Millennium Management LLC lifted its stake in 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. Gabelli Funds LLC bought a new position in shares of Mercer International in the second quarter valued at approximately $1,804,000. 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 valued at $1,111,000 after purchasing an additional 14,603 shares in the last quarter. Jump Financial LLC increased its stake in shares of 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 buying an additional 214,008 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in Mercer International in the 2nd quarter valued at about $244,000. Institutional investors own 85.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. TD decreased their price objective on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a report on Monday, May 11th. Royal Bank Of Canada lowered their price objective on Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a report on Monday, May 11th. Finally, Wall Street Zen raised Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Two research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Strong Sell” and a consensus price target of $1.85.

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.