Mercer International (NASDAQ:MERC) Price Target Cut to $1.00 by Analysts at Royal Bank Of Canada

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price target decreased by Royal Bank Of Canada from $1.25 to $1.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 11.11% from the stock’s previous close.

Several other equities analysts have also weighed in on MERC. TD Securities lowered 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 boosted their target price for the company from $2.00 to $2.25 in a research report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Friday, March 27th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Mercer International presently has a consensus rating of “Strong Sell” and a consensus target price of $2.19.

Mercer International Trading Down 8.2%

Shares of MERC traded down $0.08 during trading hours on Monday, hitting $0.90. 394,787 shares of the stock were exchanged, compared to its average volume of 574,852. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22. The business has a 50-day moving average of $1.36 and a 200-day moving average of $1.80. Mercer International has a fifty-two week low of $0.90 and a fifty-two week high of $4.47. The firm has a market capitalization of $60.28 million, a P/E ratio of -0.11 and a beta of 0.53.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $493.00 million. On average, research analysts expect that Mercer International will post -2.17 EPS for the current year.

Institutional Investors Weigh In On Mercer International

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in Mercer International by 2.7% during 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 purchasing an additional 14,603 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Mercer International by 16.1% in the third 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 in the last quarter. Iat Reinsurance Co. LTD. boosted its position in shares of Mercer International by 1.3% during the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock valued at $48,096,000 after buying an additional 220,000 shares during the last quarter. Gabelli Funds LLC bought a new stake in Mercer International during the second quarter worth $1,804,000. Finally, Gamco Investors INC. ET AL purchased a new stake in Mercer International in the 2nd quarter valued at $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.