Mercer International (NASDAQ:MERC) Cut to Sector Underperform at Canadian Imperial Bank of Commerce

Mercer International (NASDAQ:MERC) (TSE:MRI.U) was downgraded by analysts at Canadian Imperial Bank of Commerce from a “neutral” rating to a “sector underperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

MERC has been the subject of several other reports. Royal Bank Of Canada lowered their price target on shares of Mercer International from $0.75 to $0.20 and set a “sector perform” rating for the company in a report on Friday, October 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Monday, September 21st. TD dropped their target price on Mercer International from $0.40 to $0.15 and set a “sell” rating for the company in a research report on Monday, August 10th. Finally, Wall Street Zen raised Mercer International from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Sell” and a consensus price target of $1.02.

Mercer International Stock Performance

Shares of MERC traded down $0.00 during mid-day trading on Tuesday, reaching $0.12. The company had a trading volume of 214,005 shares, compared to its average volume of 1,435,181. The company’s 50 day simple moving average is $0.32 and its 200 day simple moving average is $1.03. Mercer International has a 1-year low of $0.12 and a 1-year high of $2.85. The company has a market capitalization of $8.24 million, a price-to-earnings ratio of -0.02 and a beta of 0.55.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Empowered Funds LLC purchased a new stake in shares of Mercer International during the second quarter valued at approximately $67,000. Squarepoint Ops LLC raised its stake in Mercer International by 773.9% in the second quarter. Squarepoint Ops LLC now owns 161,818 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 143,301 shares in the last quarter. Net Worth Advisory Group lifted its position in Mercer International by 847.0% during the third quarter. Net Worth Advisory Group now owns 287,699 shares of the basic materials company’s stock valued at $93,000 after purchasing an additional 257,318 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Mercer International in the 2nd quarter worth approximately $379,000. Finally, Atlas FRM LLC purchased a new position in Mercer International in the 2nd quarter worth approximately $393,882. 85.79% of the stock is owned by institutional investors.

About Mercer International

Mercer International Inc is a global producer of market northern bleached softwood kraft (NBSK) pulp, a wood-fiber material used to manufacture tissue, printing and writing papers, specialty papers, and other fiber-based products. The company sells its pulp to customers in a range of international markets, primarily through direct sales and established distribution channels.

Mercer operates pulp mills in Germany and Canada. Its German operations include the Rosenthal mill in Blankenstein and the Stendal mill in Arneburg, while its Canadian operations include the Celgar mill in Castlegar, British Columbia.