Mercer International Inc. (NASDAQ:MERC) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have been given an average rating of “Reduce” by the six research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $3.10.

Several brokerages have recently weighed in on MERC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 29th. Royal Bank Of Canada decreased their target price on Mercer International from $3.00 to $2.00 and set a “sector perform” rating for the company in a research report on Monday, November 10th. TD Cowen lowered Mercer International from a “hold” rating to a “sell” rating and upped their target price for the stock from $2.00 to $2.25 in a research report on Wednesday, January 21st. Finally, TD Securities downgraded shares of Mercer International from a “hold” rating to a “sell” rating and lifted their price target for the company from $2.00 to $2.25 in a research report on Wednesday, January 21st.

Mercer International Stock Performance

Shares of MERC stock opened at $1.73 on Thursday. The firm has a 50 day moving average of $2.13 and a 200-day moving average of $2.48. The company has a market cap of $115.88 million, a price-to-earnings ratio of -0.67 and a beta of 0.72. The company has a quick ratio of 1.68, a current ratio of 3.01 and a debt-to-equity ratio of 4.30. Mercer International has a 52 week low of $1.48 and a 52 week high of $8.28.

Hedge Funds Weigh In On Mercer International

Several large investors have recently added to or reduced their stakes in MERC. Iat Reinsurance Co. LTD. boosted its stake in Mercer International by 1.3% during the 3rd 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 last quarter. Millennium Management LLC lifted its holdings in shares of Mercer International by 16.1% in the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after purchasing an additional 137,906 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 valued at $1,111,000 after buying an additional 14,603 shares during the last quarter. Gabelli Funds LLC bought a new stake in Mercer International during the second quarter worth $1,804,000. Finally, Jump Financial LLC grew its holdings 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 buying an additional 214,008 shares in the last quarter. Institutional investors 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.