Royal Bank Of Canada Cuts Mercer International (NASDAQ:MERC) Price Target to $0.75

Mercer International (NASDAQ:MERCFree Report) (TSE:MRI.U) had its price objective lowered by Royal Bank Of Canada from $1.00 to $0.75 in a report published on Friday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the basic materials company’s stock.

Several other analysts have also issued reports on the stock. TD restated a “sell” rating on shares of Mercer International in a research report on Tuesday, July 14th. Wall Street Zen upgraded Mercer International from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research note on Wednesday, June 24th. Two research 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 stock presently has an average rating of “Strong Sell” and a consensus price target of $1.80.

Check Out Our Latest Stock Report on Mercer International

Mercer International Stock Performance

Shares of MERC opened at $0.66 on Friday. The firm has a market cap of $43.99 million, a price-to-earnings ratio of -0.08 and a beta of 0.52. The company has a debt-to-equity ratio of 23.58, a quick ratio of 1.22 and a current ratio of 2.17. Mercer International has a fifty-two week low of $0.53 and a fifty-two week high of $4.47. The firm has a 50 day moving average price of $0.82 and a 200-day moving average price of $1.40.

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

Insiders Place Their Bets

In other news, major shareholder Peter R. Kellogg bought 51,441 shares of Mercer International stock in a transaction on Friday, June 12th. The shares were purchased at an average price of $0.92 per share, for a total transaction of $47,325.72. Following the acquisition, the insider owned 1,385,672 shares of the company’s stock, valued at approximately $1,274,818.24. The trade was a 3.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders purchased 1,383,743 shares of company stock worth $1,264,565. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MERC. Jump Financial LLC boosted its holdings in shares of Mercer International by 340.6% during 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 in the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Mercer International in the second quarter worth approximately $244,000. Gabelli Funds LLC purchased a new position in Mercer International in the 2nd quarter worth approximately $1,804,000. Millennium Management LLC raised its holdings in Mercer International by 16.1% in the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after acquiring an additional 137,906 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Mercer International by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock worth $1,111,000 after acquiring an additional 14,603 shares during the last quarter. Hedge funds and other institutional investors own 85.79% of the company’s stock.

Mercer International Company Profile

(Get Free Report)

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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Analyst Recommendations for Mercer International (NASDAQ:MERC)

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