Mercer International (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) had its target price lowered by analysts at TD from $0.40 to $0.15 in a research report issued on Monday,BayStreet.CA reports. The firm presently has a “sell” rating on the basic materials company’s stock. TD’s price objective would suggest a potential downside of 71.43% from the stock’s previous close.
MERC has been the subject of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. Royal Bank Of Canada cut their target price on shares of Mercer International from $1.00 to $0.75 and set a “sector perform” rating for the company in a research report on Friday, July 17th. Canadian Imperial Bank of Commerce reduced their target price on shares of Mercer International from $1.50 to $1.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Mercer International from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Two equities 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.com, Mercer International currently has a consensus rating of “Strong Sell” and an average price target of $1.13.
Get Our Latest Stock Report on Mercer International
Mercer International Stock Down 11.6%
Mercer International (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) last released its quarterly earnings data on Thursday, August 6th. The basic materials company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.18). The business had revenue of $460.28 million for the quarter, compared to analyst estimates of $476.00 million. Mercer International had a negative return on equity of 352.57% and a negative net margin of 27.86%. As a group, equities analysts expect that Mercer International will post -3.1 EPS for the current fiscal year.
Insider Transactions at Mercer International
In other Mercer International news, major shareholder Peter R. Kellogg bought 51,441 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $0.92 per share, for a total transaction of $47,325.72. Following the transaction, the insider directly owned 1,385,672 shares in the company, valued at $1,274,818.24. This trade represents a 3.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 1,383,743 shares of company stock worth $1,264,565 over the last three months. Insiders own 1.20% of the company’s stock.
Institutional Trading of Mercer International
A number of institutional investors have recently made changes to their positions in the stock. Gamco Investors INC. ET AL purchased a new position in Mercer International during the 2nd quarter valued at about $244,000. GSA Capital Partners LLP bought a new stake in shares of Mercer International in the 2nd quarter worth approximately $379,000. BlackRock Inc. bought a new stake in shares of Mercer International in the 2nd quarter worth approximately $798,000. Jump Financial LLC increased its stake 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 valued at $969,000 after buying an additional 214,008 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Mercer International by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock valued at $1,111,000 after acquiring an additional 14,603 shares in the last quarter. Hedge funds and other 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.
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