Peter Kellogg Purchases 200,000 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 200,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $0.88 per share, with a total value of $176,000.00. Following the completion of the acquisition, the insider owned 1,257,000 shares in the company, valued at approximately $1,106,160. This trade represents a 18.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Trading Up 0.7%

Mercer International stock traded up $0.01 during trading hours on Friday, reaching $0.94. 714,392 shares of the company’s stock were exchanged, compared to its average volume of 554,853. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58. The firm’s 50 day simple moving average is $1.25 and its 200 day simple moving average is $1.74. Mercer International Inc. has a twelve month low of $0.75 and a twelve month high of $4.47. The firm has a market capitalization of $62.96 million, a PE ratio of -0.12 and a beta of 0.53.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued 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). Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%.The business had revenue of $489.30 million for the quarter, compared to analyst estimates of $493.00 million. Research analysts predict that Mercer International Inc. will post -2.21 earnings per share for the current year.

Hedge Funds Weigh In On Mercer International

Several large investors have recently added to or reduced their stakes in the business. Iat Reinsurance Co. LTD. lifted its position in Mercer International by 1.3% in 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 acquiring an additional 220,000 shares in the last quarter. Millennium Management LLC lifted 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 valued at $2,866,000 after acquiring an additional 137,906 shares in the last quarter. Geode Capital Management LLC lifted its position in Mercer International by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock valued at $1,111,000 after acquiring an additional 14,603 shares in the last quarter. Gabelli Funds LLC bought a new position in Mercer International in the 2nd quarter valued at about $1,804,000. Finally, Jump Financial LLC lifted its position in Mercer International by 340.6% in the 2nd 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 in the last quarter. Institutional investors own 85.79% of the company’s stock.

Analysts Set New Price Targets

MERC has been the subject of a number of recent analyst reports. Royal Bank Of Canada decreased 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. TD Cowen downgraded Mercer International from a “hold” rating to a “sell” rating and raised their target price for the company from $2.00 to $2.25 in a research note on Wednesday, January 21st. TD Securities downgraded Mercer International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. TD reduced their target price on Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a research note on Monday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research note on Friday, March 27th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Strong Sell” and an average target price of $1.85.

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.