TD Securities Lowers Mercer International (NASDAQ:MERC) Price Target to $1.50

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its target price cut by equities researchers at TD Securities from $2.25 to $1.50 in a report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the basic materials company’s stock. TD Securities’ price target would indicate a potential downside of 21.67% from the company’s current price.

MERC has been the topic of a number of other reports. Royal Bank Of Canada decreased their price objective on Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Monday, November 10th. TD Cowen lowered shares of Mercer International from a “hold” rating to a “sell” rating and increased their target price for the stock from $2.00 to $2.25 in a research note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $2.95.

Mercer International Price Performance

NASDAQ:MERC traded up $0.14 during trading hours on Tuesday, reaching $1.92. 1,692,915 shares of the company were exchanged, compared to its average volume of 722,656. The company has a current ratio of 3.05, a quick ratio of 1.79 and a debt-to-equity ratio of 23.58. The firm has a market cap of $128.27 million, a PE ratio of -0.26 and a beta of 0.72. Mercer International has a twelve month low of $1.48 and a twelve month high of $8.28. The stock’s 50-day moving average is $2.12 and its 200-day moving average is $2.42.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings results on Thursday, February 12th. The basic materials company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.51). The firm had revenue of $449.50 million for the quarter, compared to analysts’ expectations of $459.84 million. Mercer International had a negative return on equity of 81.16% and a negative net margin of 26.65%. On average, sell-side analysts anticipate that Mercer International will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mercer International

A number of hedge funds have recently modified their holdings of MERC. Gabelli Funds LLC acquired a new position in shares of Mercer International in the second quarter worth $1,804,000. Millennium Management LLC lifted its stake in shares of Mercer International by 16.1% during the third 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. Gamco Investors INC. ET AL purchased a new stake in Mercer International in the 2nd quarter worth approximately $244,000. Geode Capital Management LLC lifted its stake 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 purchasing an additional 14,603 shares during the period. Finally, Iat Reinsurance Co. LTD. grew its position in shares of Mercer International by 1.3% in the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock valued at $48,096,000 after purchasing an additional 220,000 shares during the period. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

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.