Royal Bank Of Canada Cuts Mercer International (NASDAQ:MERC) Price Target to $2.00

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its target price reduced by investment analysts at Royal Bank Of Canada from $3.00 to $2.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 16.62% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. TD Securities decreased their price target on shares of Mercer International from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, August 5th. CIBC lowered their price objective on Mercer International from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Tuesday, July 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mercer International in a research note on Wednesday. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $3.50.

Mercer International Price Performance

MERC stock traded down $0.13 during midday trading on Monday, hitting $1.72. 196,578 shares of the stock were exchanged, compared to its average volume of 571,724. The stock’s 50-day moving average price is $2.70 and its 200-day moving average price is $3.29. The company has a debt-to-equity ratio of 3.42, a quick ratio of 1.73 and a current ratio of 3.10. The stock has a market cap of $114.88 million, a price-to-earnings ratio of -1.05 and a beta of 0.94. Mercer International has a fifty-two week low of $1.55 and a fifty-two week high of $8.28.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.08). The firm had revenue of $458.07 million for the quarter, compared to analyst estimates of $482.70 million. Mercer International had a negative return on equity of 23.88% and a negative net margin of 5.60%. Research analysts predict that Mercer International will post -0.29 earnings per share for the current year.

Insider Buying and Selling at Mercer International

In other Mercer International news, Director Linda J. Welty bought 10,000 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were acquired at an average cost of $3.09 per share, with a total value of $30,900.00. Following the completion of the transaction, the director owned 36,290 shares in the company, valued at $112,136.10. The trade was a 38.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mercer International

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP boosted its stake in shares of Mercer International by 943.3% during the 1st quarter. Quantbot Technologies LP now owns 20,470 shares of the basic materials company’s stock valued at $126,000 after buying an additional 18,508 shares during the last quarter. Jump Financial LLC boosted its holdings in shares of Mercer International by 340.6% in 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. Gamco Investors INC. ET AL acquired a new stake in Mercer International during the second quarter worth about $244,000. Finally, Gabelli Funds LLC acquired a new position in Mercer International in the second quarter valued at approximately $1,804,000. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

Mercer International Company Profile

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.