Mercer International (NASDAQ:MERC) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a sell rating to a strong sell rating in a report issued on Saturday morning.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. 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 on the stock in a research note on Friday. Finally, TD restated a “sell” rating on shares of Mercer International in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and an average price target of $1.80.

Mercer International Stock Down 1.9%

MERC opened at $0.66 on Friday. The business has a 50 day moving average price of $0.82 and a two-hundred day moving average price of $1.40. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58. The company has a market cap of $43.99 million, a PE ratio of -0.08 and a beta of 0.52. Mercer International has a 52 week low of $0.53 and a 52 week high of $4.47.

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

Insider Activity

In other Mercer International news, major shareholder Peter R. Kellogg bought 380,000 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $0.96 per share, with a total value of $364,800.00. Following the purchase, the insider owned 1,852,000 shares in the company, valued at approximately $1,777,920. This represents a 25.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders purchased 1,383,743 shares of company stock worth $1,264,565. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in 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 worth $1,111,000 after acquiring an additional 14,603 shares in the last quarter. Millennium Management LLC boosted its position in shares of Mercer International by 16.1% during the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after purchasing an additional 137,906 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Mercer International during the 2nd quarter worth $1,804,000. Gamco Investors INC. ET AL acquired a new position in shares of Mercer International during the 2nd quarter worth $244,000. Finally, Jump Financial LLC grew its stake in shares of Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after purchasing an additional 214,008 shares during the period. Institutional investors and hedge funds 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.