Analysts Set Mercer International Inc. (NASDAQ:MERC) Price Target at $1.85

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) has earned a consensus rating of “Strong Sell” from the six brokerages that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $1.85.

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada cut their price objective on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a research report on Monday, May 11th. Wall Street Zen raised Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a research note on Wednesday, June 24th. Finally, TD cut their price target on Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a report on Monday, May 11th.

Insider Buying and Selling at Mercer International

In other news, major shareholder Peter R. Kellogg bought 380,000 shares of the stock in a transaction dated Monday, May 18th. The shares were bought at an average cost of $0.96 per share, with a total value of $364,800.00. Following the completion of the transaction, the insider directly owned 1,852,000 shares of the company’s stock, valued at $1,777,920. This trade represents a 25.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased 1,383,743 shares of company stock worth $1,264,565 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mercer International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL bought a new position in Mercer International in the 2nd quarter valued at about $244,000. Jump Financial LLC raised 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 worth $969,000 after purchasing an additional 214,008 shares during the last quarter. Geode Capital Management LLC raised 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 worth $1,111,000 after purchasing an additional 14,603 shares during the last quarter. Gabelli Funds LLC bought a new position in shares of Mercer International in the second quarter valued at approximately $1,804,000. Finally, Millennium Management LLC boosted its position in shares of Mercer International by 16.1% during the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after buying an additional 137,906 shares during the last quarter. 85.79% of the stock is owned by institutional investors.

Mercer International Trading Up 6.7%

Shares of NASDAQ:MERC traded up $0.04 during mid-day trading on Friday, hitting $0.64. The company had a trading volume of 672,482 shares, compared to its average volume of 677,435. The firm has a fifty day moving average price of $0.86 and a 200 day moving average price of $1.45. The company has a market capitalization of $42.97 million, a PE ratio of -0.08 and a beta of 0.52. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22. Mercer International has a one year low of $0.58 and a one year high of $4.47.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its earnings results on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.04). The company had revenue of $489.30 million for the quarter, compared to the consensus estimate of $493.00 million. Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%. As a group, research analysts forecast that Mercer International will post -2.21 EPS for the current year.

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.