Mercer International (NASDAQ:MERC) Stock Rating Lowered by Wall Street Zen

Mercer International (NASDAQ:MERC) (TSE:MRI.U) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

A number of other analysts have also commented on MERC. TD reaffirmed a “sell” rating on shares of Mercer International in a research note on Tuesday. Royal Bank Of Canada dropped their target price on shares of Mercer International from $1.00 to $0.75 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average target price of $1.80.

Mercer International Trading Down 1.9%

Shares of NASDAQ MERC opened at $0.66 on Friday. 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 12 month low of $0.53 and a 12 month high of $4.47. The company has a market cap of $43.99 million, a price-to-earnings ratio of -0.08 and a beta of 0.52. The business has a fifty day simple moving average of $0.82 and a 200-day simple moving average of $1.40.

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

Insider Buying and Selling at Mercer International

In other Mercer International news, major shareholder Peter R. Kellogg purchased 380,000 shares of the stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $0.96 per share, for a total transaction of $364,800.00. Following the completion of the acquisition, the insider owned 1,852,000 shares of the company’s stock, valued at $1,777,920. This represents a 25.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 1,383,743 shares of company stock worth $1,264,565 in the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Mercer International

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of 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 worth $1,111,000 after purchasing an additional 14,603 shares in 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. Gabelli Funds LLC acquired a new stake in shares of Mercer International during the second quarter worth approximately $1,804,000. Gamco Investors INC. ET AL purchased a new position in Mercer International during the second quarter valued at approximately $244,000. Finally, Jump Financial LLC grew its position in Mercer International by 340.6% during the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after purchasing an additional 214,008 shares in the last quarter. 85.79% of the stock is currently owned by institutional investors and hedge funds.

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.