Mercer International (NASDAQ:MERC) Earns “Sell” Rating from TD

Mercer International (NASDAQ:MERC) (TSE:MRI.U)‘s stock had its “sell” rating reaffirmed by research analysts at TD in a research report issued on Tuesday,BayStreet.CA reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research note on Wednesday, June 24th. Royal Bank Of Canada cut their price objective on 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. Finally, Wall Street Zen raised Mercer International from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average target price of $1.85.

Mercer International Price Performance

Shares of MERC stock traded down $0.03 during mid-day trading on Tuesday, hitting $0.55. The company had a trading volume of 529,580 shares, compared to its average volume of 604,372. Mercer International has a 52-week low of $0.55 and a 52-week high of $4.47. The stock’s 50 day moving average price is $0.85 and its 200-day moving average price is $1.44. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22. The company has a market capitalization of $36.97 million, a P/E ratio of -0.07 and a beta of 0.52.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its 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 for the quarter, compared to the consensus estimate of $493.00 million. Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%. Equities research analysts forecast that Mercer International will post -2.21 earnings per share for the current year.

Insider Activity at Mercer International

In other Mercer International news, major shareholder Peter R. Kellogg purchased 380,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $0.96 per share, with a total value of $364,800.00. Following the acquisition, the insider owned 1,852,000 shares in the company, valued at approximately $1,777,920. The trade was a 25.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have bought 1,383,743 shares of company stock valued at $1,264,565. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mercer International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 worth $969,000 after purchasing an additional 214,008 shares during the period. Gamco Investors INC. ET AL bought a new position in shares of Mercer International during the 2nd quarter valued at approximately $244,000. Gabelli Funds LLC purchased a new stake in Mercer International during the 2nd quarter valued at $1,804,000. Millennium Management LLC raised its holdings in Mercer International by 16.1% during 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 during the period. Finally, Geode Capital Management LLC lifted its position in 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 buying an additional 14,603 shares during the last quarter. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

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.