Mercer International (NASDAQ:MERC) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a strong sell rating to a sell rating in a research note published on Saturday.

Other analysts also recently issued research reports about the stock. Canadian Imperial Bank of Commerce cut their price objective on shares of Mercer International from $1.50 to $1.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. TD lowered their target price on Mercer International from $0.40 to $0.15 and set a “sell” rating on the stock in a report on Monday, August 10th. 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 cut their price target on Mercer International from $1.00 to $0.75 and set a “sector perform” rating for the company in a report on Friday, July 17th. Two analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average target price of $1.13.

Mercer International Price Performance

Mercer International stock opened at $0.47 on Friday. Mercer International has a 52-week low of $0.47 and a 52-week high of $3.38. The firm has a market capitalization of $31.55 million, a price-to-earnings ratio of -0.06 and a beta of 0.53. The company has a fifty day simple moving average of $0.69 and a 200-day simple moving average of $1.15. The company has a quick ratio of 0.68, a current ratio of 1.30 and a debt-to-equity ratio of 23.58.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings results on Thursday, August 6th. The basic materials company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.18). The business had revenue of $460.28 million during the quarter, compared to analysts’ expectations of $476.00 million. Mercer International had a negative return on equity of 352.57% and a negative net margin of 27.86%. On average, equities analysts anticipate that Mercer International will post -3.19 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Peter R. Kellogg bought 380,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $0.96 per share, for a total transaction of $364,800.00. Following the acquisition, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 868,743 shares of company stock worth $798,315 over the last quarter. 1.20% of the stock is owned by insiders.

Institutional Trading of Mercer International

Several institutional investors have recently made changes to their positions in MERC. Geode Capital Management LLC lifted 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 acquiring an additional 14,603 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Mercer International during the second quarter worth $244,000. Millennium Management LLC increased its stake in Mercer International by 16.1% during the third 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 last quarter. Jump Financial LLC raised its position 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 purchasing an additional 214,008 shares during the period. Finally, Gabelli Funds LLC purchased a new stake in Mercer International in the second quarter valued at $1,804,000. Hedge funds and other institutional investors 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.