Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Buys 51,441 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 51,441 shares of the company’s stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of $0.92 per share, for a total transaction of $47,325.72. Following the completion of the acquisition, the insider owned 1,385,672 shares of the company’s stock, valued at $1,274,818.24. This trade represents a 3.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mercer International Price Performance

Shares of Mercer International stock traded down $0.03 during mid-day trading on Wednesday, reaching $0.65. 1,761,087 shares of the stock traded hands, compared to its average volume of 599,197. The stock has a market capitalization of $43.37 million, a PE ratio of -0.08 and a beta of 0.52. The business has a 50-day moving average of $0.89 and a 200 day moving average of $1.48. Mercer International Inc. has a fifty-two week low of $0.58 and a fifty-two week high of $4.47. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued 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). Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. The business had revenue of $489.30 million during the quarter, compared to analyst estimates of $493.00 million. On average, analysts predict that Mercer International Inc. will post -2.21 EPS for the current year.

Analysts Set New Price Targets

MERC has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price target on Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a research note on Monday, May 11th. TD lowered their target price on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus target price of $1.85.

Hedge Funds Weigh In On Mercer International

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gabelli Funds LLC purchased a new position in Mercer International in the second quarter valued at $1,804,000. Jump Financial LLC raised its position 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 acquiring an additional 214,008 shares in the last quarter. Millennium Management LLC lifted its stake in Mercer International by 16.1% during the third 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 during the last quarter. Gamco Investors INC. ET AL purchased a new position in Mercer International in the second quarter valued at approximately $244,000. Finally, Geode Capital Management LLC raised its holdings in 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 worth $1,111,000 after purchasing an additional 14,603 shares in the last quarter. Institutional investors and hedge funds 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.