Mercer International Inc. (MERC) Receives Consensus Rating of “Hold” from Analysts
Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have received a consensus rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $16.19.
A number of equities analysts have commented on the stock. CSFB downgraded shares of Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Friday, October 27th. Royal Bank of Canada upgraded shares of Mercer International from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $12.00 to $15.00 in a research report on Wednesday, October 18th. Credit Suisse Group downgraded shares of Mercer International from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 26th. Finally, BidaskClub downgraded shares of Mercer International from a “hold” rating to a “sell” rating in a research report on Wednesday, December 6th.
Shares of Mercer International (NASDAQ:MERC) traded up $0.10 during trading on Friday, reaching $13.75. 189,763 shares of the company’s stock were exchanged, compared to its average volume of 202,844. The stock has a market cap of $851.73, a P/E ratio of 14.89 and a beta of 1.48. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.44 and a current ratio of 3.58. Mercer International has a 52 week low of $9.88 and a 52 week high of $15.00.
In related news, major shareholder Peter R. Kellogg purchased 2,658,743 shares of the stock in a transaction dated Tuesday, October 10th. The shares were acquired at an average cost of $12.41 per share, with a total value of $32,995,000.63. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Peter R. Kellogg purchased 10,514 shares of the stock in a transaction dated Monday, December 18th. The shares were bought at an average cost of $13.08 per share, for a total transaction of $137,523.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,890,000 shares of company stock worth $35,728,615 and have sold 320,500 shares worth $4,302,285. Corporate insiders own 4.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC grew its stake in shares of Mercer International by 9.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,478 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 1,654 shares during the period. Renaissance Group LLC grew its stake in Mercer International by 9.7% in the 2nd quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock valued at $449,000 after acquiring an additional 3,434 shares during the last quarter. Nationwide Fund Advisors grew its stake in Mercer International by 16.5% in the 2nd quarter. Nationwide Fund Advisors now owns 216,961 shares of the basic materials company’s stock valued at $2,495,000 after acquiring an additional 30,661 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Mercer International by 11.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,556 shares of the basic materials company’s stock valued at $2,767,000 after acquiring an additional 23,872 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Mercer International by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 283,990 shares of the basic materials company’s stock valued at $3,322,000 after acquiring an additional 8,231 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.
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Mercer International Company Profile
Mercer International Inc is a producer of northern bleached softwood kraft (NBSK) pulp, which is pulp that is sold on the open market. The Company also produces and sells tall oil, a by-product of its production process, which is used as both a chemical additive and as a green energy source. It produces and sells NBSK pulp, which is a bleached kraft pulp manufactured using northern softwood.
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