Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Purchases 51,441 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 51,441 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was bought at an average cost of $0.92 per share, with a total value of $47,325.72. Following the acquisition, the insider owned 1,385,672 shares of the company’s stock, valued at approximately $1,274,818.24. The trade was a 3.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Performance

Shares of MERC traded down $0.03 during trading hours on Wednesday, reaching $0.65. 1,761,087 shares of the company traded hands, compared to its average volume of 599,197. 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 business has a fifty day moving average price of $0.89 and a 200-day moving average price of $1.48. Mercer International Inc. has a 12-month low of $0.58 and a 12-month high of $4.47. The stock has a market capitalization of $43.37 million, a P/E ratio of -0.08 and a beta of 0.52.

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

Analysts Set New Price Targets

Several analysts have commented on the stock. TD decreased their price objective on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Mercer International from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada lowered their price target on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Sell” and an average price target of $1.85.

Institutional Investors Weigh In On Mercer International

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of 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 period. Gabelli Funds LLC acquired a new stake in Mercer International during the second quarter valued at $1,804,000. Geode Capital Management LLC increased its holdings in 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 valued at $1,111,000 after buying an additional 14,603 shares in the last quarter. Jump Financial LLC increased its holdings in Mercer International by 340.6% in the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after buying an additional 214,008 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Mercer International in the second quarter worth about $244,000. Institutional investors and hedge funds own 85.79% of the company’s stock.

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.