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

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) has been given a consensus recommendation of “Reduce” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $2.95.

Several equities analysts have commented on the stock. Royal Bank Of Canada lowered their price objective on shares of Mercer International from $3.00 to $2.00 and set a “sector perform” rating for the company in a research report on Monday, November 10th. TD Securities downgraded shares of Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. TD Cowen lowered Mercer International from a “hold” rating to a “sell” rating and lifted their price target for the stock from $2.00 to $2.25 in a research report on Wednesday, January 21st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Monday, December 29th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jump Financial LLC increased its position in Mercer International by 340.6% during the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after acquiring an additional 214,008 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Mercer International during the 2nd quarter worth about $244,000. Gabelli Funds LLC bought a new position in Mercer International during the 2nd quarter valued at about $1,804,000. Iat Reinsurance Co. LTD. grew its holdings 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 valued at $48,096,000 after purchasing an additional 220,000 shares during the last quarter. Finally, Millennium Management LLC raised its position 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 worth $2,866,000 after purchasing an additional 137,906 shares during the period. 85.79% of the stock is owned by hedge funds and other institutional investors.

Mercer International Price Performance

NASDAQ:MERC opened at $1.68 on Monday. The business’s 50-day moving average is $2.09 and its 200 day moving average is $2.31. Mercer International has a 12 month low of $1.48 and a 12 month high of $7.43. The company has a market capitalization of $112.53 million, a P/E ratio of -0.23 and a beta of 0.68. The company has a current ratio of 3.05, a quick ratio of 1.79 and a debt-to-equity ratio of 23.58.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly 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). The firm had revenue of $449.50 million for the quarter, compared to analysts’ expectations of $459.84 million. Mercer International had a negative net margin of 26.65% and a negative return on equity of 81.16%. On average, equities research analysts forecast that Mercer International will post -0.29 earnings per share for the current fiscal 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.