Mercer International (NASDAQ:MERC) Major Shareholder Purchases 36,000 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 36,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average cost of $0.82 per share, with a total value of $29,520.00. Following the completion of the acquisition, the insider owned 1,198,231 shares in the company, valued at approximately $982,549.42. This represents a 3.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Performance

NASDAQ MERC traded down $0.03 during mid-day trading on Wednesday, reaching $0.65. 1,761,087 shares of the stock were exchanged, compared to its average volume of 599,197. The company has a market capitalization of $43.37 million, a P/E ratio of -0.08 and a beta of 0.52. The company has a debt-to-equity ratio of 23.58, a quick ratio of 1.22 and a current ratio of 2.17. The business’s 50 day moving average is $0.89 and its 200-day moving average is $1.48. Mercer International Inc. has a 1 year low of $0.58 and a 1 year high of $4.47.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings data 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 firm had revenue of $489.30 million during the quarter, compared to analysts’ expectations of $493.00 million. Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. On average, equities research analysts forecast that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on MERC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. Wall Street Zen upgraded Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Royal Bank Of Canada reduced their target price on Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a research note on Monday, May 11th. Finally, TD dropped their price target on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a research note on Monday, May 11th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $1.85.

Institutional Trading of Mercer International

Several large investors have recently made changes to their positions in MERC. Millennium Management LLC raised its stake 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 purchasing an additional 137,906 shares during the last quarter. Gabelli Funds LLC acquired a new stake in Mercer International during the 2nd quarter worth $1,804,000. Geode Capital Management LLC grew its holdings in shares of 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 in the last quarter. Jump Financial LLC grew its holdings in shares of 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. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International in the second quarter valued at about $244,000. 85.79% of the stock is currently owned by hedge funds and other 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.