Peter Kellogg Buys 34,733 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 34,733 shares of the business’s stock in a transaction on Monday, June 8th. The shares were purchased at an average cost of $0.80 per share, for a total transaction of $27,786.40. Following the completion of the purchase, the insider owned 1,138,594 shares in the company, valued at approximately $910,875.20. This trade represents a 3.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Price Performance

MERC opened at $0.60 on Friday. The firm has a market capitalization of $40.29 million, a P/E ratio of -0.08 and a beta of 0.52. The stock has a fifty day moving average of $0.87 and a 200-day moving average of $1.46. 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 Inc. has a 12-month low of $0.58 and a 12-month high of $4.47.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings results 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). The business had revenue of $489.30 million for the quarter, compared to analysts’ expectations of $493.00 million. Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. Equities analysts forecast that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MERC shares. Royal Bank Of Canada dropped their target price on Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a report on Monday, May 11th. Wall Street Zen upgraded shares of Mercer International from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Finally, TD lowered their price objective on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Strong Sell” and a consensus target price of $1.85.

Institutional Trading of Mercer International

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC grew its stake in 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. Gabelli Funds LLC acquired a new position in Mercer International in the 2nd quarter worth about $1,804,000. Geode Capital Management LLC raised 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 in the last quarter. Jump Financial LLC raised 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 in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International during the 2nd quarter valued at about $244,000. 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.