Mercer International (NASDAQ:MERC) Price Target Cut to $0.50 by Analysts at TD

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its target price dropped by stock analysts at TD from $1.00 to $0.50 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a “sell” rating on the basic materials company’s stock. TD’s target price would indicate a potential downside of 42.86% from the stock’s previous close.

A number of other research firms have also recently weighed in on MERC. Royal Bank Of Canada lowered their price target on Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a report on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Friday, March 27th. TD Cowen cut Mercer International from a “hold” rating to a “sell” rating and increased their price target for the stock from $2.00 to $2.25 in a report on Wednesday, January 21st. Finally, TD Securities cut Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Sell” and a consensus target price of $1.85.

Mercer International Trading Down 10.7%

Shares of MERC traded down $0.11 during midday trading on Monday, reaching $0.88. The company had a trading volume of 558,848 shares, compared to its average volume of 578,298. Mercer International has a 1-year low of $0.90 and a 1-year high of $4.47. The stock has a market cap of $58.61 million, a PE ratio of -0.11 and a beta of 0.53. The firm has a 50 day simple moving average of $1.36 and a 200-day simple moving average of $1.80. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.04). The business had revenue of $489.30 million for the quarter, compared to analysts’ expectations of $493.00 million. Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%. Research analysts forecast that Mercer International will post -2.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Mercer International

Several institutional investors have recently added to or reduced their stakes in the business. Iat Reinsurance Co. LTD. lifted its stake in Mercer International by 1.3% during 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 last quarter. Millennium Management LLC lifted its stake in Mercer International by 16.1% during 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 last quarter. Geode Capital Management LLC increased its position 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 period. Gabelli Funds LLC purchased a new stake in Mercer International in the second quarter valued at approximately $1,804,000. Finally, Jump Financial LLC lifted its stake 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 valued at $969,000 after buying an additional 214,008 shares during 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.