Mercer International (NASDAQ:MERC) Stock Rating Lowered by Wall Street Zen

Mercer International (NASDAQ:MERC) (TSE:MRI.U) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the stock. TD reissued a “sell” rating on shares of Mercer International in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a research note on Wednesday, June 24th. Finally, Royal Bank Of Canada lowered their target price on shares of Mercer International from $1.00 to $0.75 and set a “sector perform” rating for the company in a report on Friday. Two research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and a consensus price target of $1.80.

Mercer International Stock Performance

Shares of Mercer International stock opened at $0.66 on Friday. 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 capitalization of $43.99 million, a P/E ratio of -0.08 and a beta of 0.52. The business has a fifty day simple moving average of $0.82 and a two-hundred day simple moving average of $1.40. Mercer International has a 12 month low of $0.53 and a 12 month high of $4.47.

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

Insider Activity

In other news, major shareholder Peter R. Kellogg purchased 380,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average price of $0.96 per share, for a total transaction of $364,800.00. Following the purchase, the insider directly owned 1,852,000 shares in the company, valued at approximately $1,777,920. This trade represents a 25.82% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders bought 1,383,743 shares of company stock valued at $1,264,565. 1.00% of the stock is owned by insiders.

Institutional Trading of Mercer International

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC lifted its stake 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 worth $2,866,000 after buying an additional 137,906 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Mercer International by 2.7% during 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 stake in shares of Mercer International during the second quarter valued at approximately $1,804,000. Jump Financial LLC raised its holdings in Mercer International by 340.6% in the 2nd 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 last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in Mercer International in the 2nd quarter worth approximately $244,000. 85.79% of the stock is currently owned by institutional investors.

Mercer International Company Profile

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.