Wall Street Zen upgraded shares of Mercer International (NASDAQ:MERC – Free Report) (TSE:MRI.U) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.
Several other research analysts have also weighed in on the company. Royal Bank Of Canada cut their target price on Mercer International from $1.00 to $0.75 and set a “sector perform” rating on the stock in a research report on Friday, July 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. TD dropped their price target on Mercer International from $0.40 to $0.15 and set a “sell” rating for the company in a research note on Monday, August 10th. Finally, Canadian Imperial Bank of Commerce dropped their price target on Mercer International from $1.50 to $1.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus price target of $1.13.
View Our Latest Analysis on MERC
Mercer International Stock Performance
Mercer International (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) last announced its quarterly earnings results on Thursday, August 6th. The basic materials company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.18). Mercer International had a negative net margin of 27.86% and a negative return on equity of 352.57%. The company had revenue of $460.28 million during the quarter, compared to analyst estimates of $476.00 million. Sell-side analysts anticipate that Mercer International will post -3.19 EPS for the current year.
Insider Buying and Selling at Mercer International
In other Mercer International news, major shareholder Peter R. Kellogg purchased 136,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $0.86 per share, with a total value of $116,960.00. Following the transaction, the insider owned 1,334,231 shares in the company, valued at approximately $1,147,438.66. This trade represents a 11.35% 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. In the last quarter, insiders have acquired 383,743 shares of company stock worth $331,665. Insiders own 1.20% of the company’s stock.
Institutional Trading of Mercer International
Several large investors have recently added to or reduced their stakes in MERC. Gamco Investors INC. ET AL purchased a new position in Mercer International in the second quarter valued at about $244,000. Jump Financial LLC grew its stake in shares of Mercer International by 340.6% in 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 in the last quarter. Gabelli Funds LLC acquired a new stake in shares of Mercer International in the second quarter valued at about $1,804,000. Geode Capital Management LLC grew its stake in shares of Mercer International by 2.7% in 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 buying an additional 14,603 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Mercer International during the 2nd quarter valued at about $379,000. 85.79% of the stock is currently owned by institutional investors and hedge funds.
Mercer International Company Profile
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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