Mercer International (NASDAQ:MERC) Shares Break Above 50 Day Moving Average – Here’s What Happened

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U)’s share price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $0.26 and traded as high as $0.3614. Mercer International shares last traded at $0.2610, with a volume of 75,224,553 shares changing hands.

Analyst Upgrades and Downgrades

MERC has been the subject of several recent research reports. Canadian Imperial Bank of Commerce cut Mercer International from a “neutral” rating to a “sector underperform” rating and set a $0.15 price target for the company. in a research note on Tuesday, October 27th. Wall Street Zen raised shares of Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Mercer International from a “sell (e+)” rating to a “sell (e)” rating in a research report on Wednesday, November 4th. TD reduced their target price on shares of Mercer International from $0.40 to $0.15 and set a “sell” rating for the company in a research note on Monday, August 10th. Finally, Royal Bank Of Canada decreased their target price on shares of Mercer International from $0.75 to $0.20 and set a “sector perform” rating for the company in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, Mercer International currently has an average rating of “Strong Sell” and a consensus target price of $0.85.

Mercer International Trading Up 11.5%

The company’s fifty day moving average is $0.26 and its 200-day moving average is $0.87. The firm has a market capitalization of $17.49 million, a P/E ratio of -0.04 and a beta of 0.67.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its earnings results on Thursday, November 5th. The basic materials company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.23. The firm had revenue of $440.67 million for the quarter, compared to the consensus estimate of $452.00 million. Mercer International had a negative net margin of 26.95% and a negative return on equity of 352.57%. On average, equities research analysts anticipate that Mercer International Inc. will post -3.35 EPS for the current year.

Institutional Investors Weigh In On Mercer International

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Mercer International during the second quarter valued at approximately $798,000. Atlas FRM LLC acquired a new stake in Mercer International during the 2nd quarter worth $393,882. GSA Capital Partners LLP bought a new stake in shares of Mercer International in the 2nd quarter valued at about $379,000. Net Worth Advisory Group boosted its position in shares of 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 worth $93,000 after purchasing an additional 257,318 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Mercer International by 773.9% during the second quarter. Squarepoint Ops LLC now owns 161,818 shares of the basic materials company’s stock worth $107,000 after acquiring an additional 143,301 shares in the last quarter. 85.79% of the stock is owned by institutional investors and hedge funds.

Mercer International Company Profile

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.