Mercer International Inc. (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) has been assigned an average rating of “Strong Sell” from the six ratings firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $1.13.
MERC has been the topic of several recent analyst reports. Royal Bank Of Canada reduced their price objective on shares of Mercer International from $1.00 to $0.75 and set a “sector perform” rating on the stock in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce lowered 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. TD reduced their price target on shares of Mercer International from $0.40 to $0.15 and set a “sell” rating on the stock in a research report on Monday, August 10th. Wall Street Zen raised shares of Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th.
Get Our Latest Report on Mercer International
Mercer International Stock Performance
Mercer International (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) last released its earnings results on Thursday, August 6th. The basic materials company reported ($1.13) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $460.28 million during the quarter, compared to analyst estimates of $476.00 million. Sell-side analysts predict that Mercer International will post -3.19 earnings per share for the current fiscal year.
Insider Transactions at Mercer International
In other news, major shareholder Peter R. Kellogg acquired 136,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $0.86 per share, for a total transaction of $116,960.00. Following the completion of the acquisition, the insider owned 1,334,231 shares in the company, valued at $1,147,438.66. This represents a 11.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 318,858 shares of company stock worth $273,269. 1.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Mercer International
A number of large investors have recently modified their holdings of MERC. BlackRock Inc. acquired a new stake in shares of Mercer International in the second quarter valued at about $798,000. Millennium Management LLC raised its stake in shares of 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 purchasing an additional 137,906 shares in the last quarter. Atlas FRM LLC acquired a new stake in shares of Mercer International in the 2nd quarter valued at approximately $393,882. GSA Capital Partners LLP acquired a new stake in shares of Mercer International in the 2nd quarter valued at approximately $379,000. Finally, 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. 85.79% of the stock is currently owned by institutional investors and hedge funds.
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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