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

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its target price dropped by investment analysts at Royal Bank Of Canada from $2.00 to $1.25 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 18.48% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. TD Cowen downgraded Mercer International from a “hold” rating to a “sell” rating and increased their price objective for the stock from $2.00 to $2.25 in a report on Wednesday, January 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Friday, March 27th. Finally, TD Securities downgraded Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Three analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $2.80.

Mercer International Stock Down 3.2%

NASDAQ:MERC traded down $0.04 during mid-day trading on Thursday, reaching $1.06. The stock had a trading volume of 74,312 shares, compared to its average volume of 598,088. The business’s 50 day moving average is $1.57 and its 200 day moving average is $1.97. Mercer International has a fifty-two week low of $1.00 and a fifty-two week high of $5.15. The stock has a market cap of $70.66 million, a P/E ratio of -0.14 and a beta of 0.77. The company has a debt-to-equity ratio of 23.58, a current ratio of 3.05 and a quick ratio of 1.79.

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

Institutional Investors Weigh In On Mercer International

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in 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 worth $1,111,000 after purchasing an additional 14,603 shares during the period. Gamco Investors INC. ET AL bought a new position in Mercer International in the second quarter worth $244,000. Millennium Management LLC lifted its position in Mercer International by 16.1% in the third 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 during the period. Jump Financial LLC lifted its position in Mercer International by 340.6% in the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after purchasing an additional 214,008 shares during the period. Finally, Iat Reinsurance Co. LTD. lifted its position in Mercer International by 1.3% in the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock worth $48,096,000 after purchasing an additional 220,000 shares during the period. 85.79% of the stock is owned by institutional investors.

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.