Royal Bank Of Canada Cuts Mercer International (NASDAQ:MERC) Price Target to $1.25

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price objective trimmed by Royal Bank Of Canada from $2.00 to $1.25 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company’s stock.

A number of other analysts also recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research note on Friday, March 27th. TD Cowen cut Mercer International from a “hold” rating to a “sell” rating and lifted their price target for the company from $2.00 to $2.25 in a research report on Wednesday, January 21st. Finally, TD Securities lowered Mercer International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $2.80.

Mercer International Stock Up 1.9%

NASDAQ:MERC opened at $1.06 on Thursday. The company has a debt-to-equity ratio of 23.58, a current ratio of 3.05 and a quick ratio of 1.79. The company’s fifty day moving average price is $1.55 and its 200-day moving average price is $1.94. Mercer International has a 1-year low of $1.00 and a 1-year high of $4.93. The firm has a market capitalization of $71.00 million, a P/E ratio of -0.14 and a beta of 0.77.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its earnings results on Thursday, February 12th. The basic materials company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.51). The business had revenue of $449.50 million for the quarter, compared to analyst estimates of $459.84 million. Mercer International had a negative net margin of 26.65% and a negative return on equity of 81.16%. As a group, equities research analysts anticipate that Mercer International will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MERC. Gamco Investors INC. ET AL purchased a new stake in shares of Mercer International in the second quarter valued at approximately $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 worth $969,000 after buying an additional 214,008 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 worth $1,111,000 after buying an additional 14,603 shares during the last quarter. Gabelli Funds LLC acquired a new position in Mercer International during the second quarter worth $1,804,000. Finally, Millennium Management LLC grew 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 valued at $2,866,000 after buying an additional 137,906 shares in the last quarter. 85.79% of the stock is 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.