TD Cuts Mercer International (NASDAQ:MERC) Price Target to $0.15

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price target lowered by TD from $0.40 to $0.15 in a research report report published on Monday,BayStreet.CA reports. TD currently has a sell rating on the basic materials company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Canadian Imperial Bank of Commerce reduced their target price on shares of Mercer International from $1.50 to $1.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Royal Bank Of Canada dropped their price objective on shares of Mercer International from $1.00 to $0.75 and set a “sector perform” rating for the company in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Mercer International from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Strong Sell” and an average target price of $1.13.

Mercer International Stock Performance

NASDAQ:MERC opened at $0.48 on Monday. The stock has a 50 day simple moving average of $0.71 and a 200 day simple moving average of $1.17. The stock has a market cap of $32.30 million, a P/E ratio of -0.06 and a beta of 0.53. Mercer International has a 1-year low of $0.47 and a 1-year high of $3.38. The company has a current ratio of 1.30, a quick ratio of 0.68 and a debt-to-equity ratio of 23.58.

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

Insider Buying and Selling at Mercer International

In related news, major shareholder Peter R. Kellogg bought 51,441 shares of Mercer International stock in a transaction dated Friday, June 12th. The shares were bought at an average cost of $0.92 per share, with a total value of $47,325.72. Following the acquisition, the insider owned 1,385,672 shares in the company, valued at $1,274,818.24. This trade represents a 3.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders acquired 1,083,743 shares of company stock worth $1,002,565. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Mercer International

Several institutional investors and hedge funds have recently bought and sold shares of MERC. Millennium Management LLC increased its holdings 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 valued at $2,866,000 after buying an additional 137,906 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 worth $1,111,000 after buying an additional 14,603 shares in the last quarter. Gabelli Funds LLC acquired a new position in shares of Mercer International during the 2nd quarter worth $1,804,000. Gamco Investors INC. ET AL bought a new stake in shares of Mercer International during the 2nd quarter worth $244,000. Finally, Jump Financial LLC raised its stake in Mercer International by 340.6% during 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 in the last quarter. Institutional investors own 85.79% of the company’s stock.

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.