Mercer International Inc. (NASDAQ:MERC) Given Consensus Rating of “Reduce” by Brokerages

Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have received an average rating of “Reduce” from the six ratings firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $2.80.

Several brokerages have recently commented on MERC. Royal Bank Of Canada reduced their target price on Mercer International from $2.00 to $1.25 and set a “sector perform” rating for the company in a report on Thursday, April 16th. TD Securities downgraded Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. TD Cowen downgraded Mercer International from a “hold” rating to a “sell” rating and upped their target price for the company from $2.00 to $2.25 in a report on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a report on Friday, March 27th.

Institutional Investors Weigh In On Mercer International

A number of institutional investors have recently bought and sold shares of MERC. Gabelli Funds LLC acquired a new stake in Mercer International during the 2nd quarter worth about $1,804,000. Iat Reinsurance Co. LTD. boosted its position in Mercer International by 1.3% during the 3rd quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock worth $48,096,000 after acquiring an additional 220,000 shares during the period. Jump Financial LLC boosted its position in Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after acquiring an additional 214,008 shares during the period. Millennium Management LLC boosted its position in 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 acquiring an additional 137,906 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new stake in Mercer International during the 2nd quarter worth about $244,000. 85.79% of the stock is currently owned by institutional investors and hedge funds.

Mercer International Trading Up 6.6%

Shares of MERC stock opened at $1.13 on Tuesday. The stock has a 50-day simple moving average of $1.53 and a 200 day simple moving average of $1.92. Mercer International has a fifty-two week low of $1.00 and a fifty-two week high of $4.93. The stock has a market capitalization of $75.69 million, a P/E ratio of -0.15 and a beta of 0.77. The company has a quick ratio of 1.79, a current ratio of 3.05 and a debt-to-equity ratio of 23.58.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its earnings results on Thursday, February 12th. The basic materials company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.51). Mercer International had a negative net margin of 26.65% and a negative return on equity of 81.16%. The firm had revenue of $449.50 million for the quarter, compared to the consensus estimate of $459.84 million. On average, sell-side analysts expect that Mercer International will post -2.26 earnings per share for the current fiscal year.

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.