Mercer International Inc. (NASDAQ:MERC) Given Average Recommendation of “Reduce” by Analysts

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) has been given a consensus recommendation of “Reduce” by the five analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $3.50.

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 29th. Royal Bank Of Canada lowered their price objective on Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Monday, November 10th.

Mercer International Price Performance

Shares of NASDAQ:MERC opened at $2.55 on Friday. The business has a fifty day moving average price of $1.90 and a 200-day moving average price of $2.70. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.01 and a quick ratio of 1.68. The company has a market capitalization of $170.80 million, a PE ratio of -0.99 and a beta of 0.69. Mercer International has a 1-year low of $1.48 and a 1-year high of $8.28.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.97) 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 analysts’ expectations of $482.70 million. Mercer International had a negative net margin of 9.04% and a negative return on equity of 37.38%. As a group, equities analysts expect that Mercer International will post -0.29 EPS for the current fiscal year.

Insider Activity

In other Mercer International news, major shareholder Peter R. Kellogg acquired 295,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average cost of $1.69 per share, with a total value of $498,550.00. Following the completion of the transaction, the insider directly owned 1,520,000 shares of the company’s stock, valued at approximately $2,568,800. This represents a 24.08% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 1,007,718 shares of company stock worth $1,860,644 over the last 90 days. Corporate 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 bought and sold shares of MERC. Gamco Investors INC. ET AL purchased a new stake in shares of Mercer International during the 2nd quarter valued at about $244,000. Jump Financial LLC lifted 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 during the period. Gabelli Funds LLC bought a new position in Mercer International during the second quarter valued at approximately $1,804,000. Millennium Management LLC boosted its holdings in Mercer International by 16.1% in 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 last quarter. Finally, Iat Reinsurance Co. LTD. grew its position in Mercer International by 1.3% in the 3rd quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock worth $48,096,000 after purchasing an additional 220,000 shares during the period. Institutional investors own 85.79% of the company’s stock.

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.