Mercer International’s (MERC) “Sell” Rating Reaffirmed at TD

Mercer International (NASDAQ:MERC) (TSE:MRI.U)‘s stock had its “sell” rating restated by equities research analysts at TD in a research report issued to clients and investors on Tuesday,BayStreet.CA reports.

MERC has been the subject of several other reports. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Royal Bank Of Canada decreased 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 research report on Monday, May 11th. Finally, Wall Street Zen raised shares of Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Two investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus target price of $1.85.

Mercer International Stock Performance

MERC stock traded down $0.03 during trading on Tuesday, reaching $0.55. The stock had a trading volume of 529,580 shares, compared to its average volume of 604,372. Mercer International has a 52 week low of $0.55 and a 52 week high of $4.47. The stock’s 50 day moving average is $0.85 and its two-hundred day moving average is $1.44. The company has a current ratio of 2.17, a quick ratio of 1.22 and a debt-to-equity ratio of 23.58. The firm has a market cap of $36.97 million, a PE ratio of -0.07 and a beta of 0.52.

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

Insiders Place Their Bets

In other news, major shareholder Peter R. Kellogg purchased 380,000 shares of the company’s stock in a transaction on Monday, May 18th. The stock was acquired at an average cost of $0.96 per share, for a total transaction of $364,800.00. Following the completion of the transaction, the insider directly owned 1,852,000 shares in the company, valued at $1,777,920. This trade represents a 25.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 1,383,743 shares of company stock worth $1,264,565 over the last quarter. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MERC. Millennium Management LLC increased its stake in Mercer International by 16.1% in the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after buying an additional 137,906 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 in the last quarter. Gabelli Funds LLC bought a new position in shares of Mercer International in the second quarter worth about $1,804,000. Jump Financial LLC boosted its stake in shares of Mercer International by 340.6% in the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after acquiring an additional 214,008 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Mercer International during the second quarter worth about $244,000. 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.