Mercer International (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) had its target price dropped by equities researchers at TD from $1.00 to $0.50 in a report released on Monday,BayStreet.CA reports. The firm currently has a “sell” rating on the basic materials company’s stock. TD’s price objective points to a potential downside of 42.86% from the company’s previous close.
MERC has been the topic of several other research reports. TD Cowen lowered shares of Mercer International from a “hold” rating to a “sell” rating and raised their price target for the company from $2.00 to $2.25 in a report on Wednesday, January 21st. Royal Bank Of Canada cut their price target on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a report on Monday. TD Securities lowered shares of Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average price target of $1.85.
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Mercer International Stock Performance
Mercer International (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) last posted its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.04). The firm had revenue of $489.30 million during the quarter, compared to analyst estimates of $493.00 million. Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. As a group, research analysts forecast that Mercer International will post -2.17 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Mercer International
A number of institutional investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International during the second quarter worth $244,000. Jump Financial LLC raised its holdings in shares of Mercer International by 340.6% during the second 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. Gabelli Funds LLC acquired a new stake in shares of Mercer International during the second quarter worth $1,804,000. Geode Capital Management LLC boosted its position 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 during the period. Finally, Millennium Management LLC grew its stake 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 worth $2,866,000 after buying an additional 137,906 shares during the last quarter. 85.79% of the stock is currently owned by 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.
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