Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) was upgraded by stock analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, October 18th, MarketBeat reports. The brokerage currently has a $15.00 target price on the basic materials company’s stock, up from their prior target price of $12.00. Royal Bank Of Canada’s price objective points to a potential upside of 7.53% from the stock’s previous close.
Several other analysts have also commented on MERC. BidaskClub raised shares of Mercer International from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. TD Securities increased their price target on shares of Mercer International from $13.00 to $15.75 and gave the company a “hold” rating in a research report on Monday, July 31st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $15.94.
Shares of Mercer International (NASDAQ MERC) traded down 1.06% on Wednesday, reaching $13.95. 373,285 shares of the company were exchanged. The company’s 50-day moving average is $12.25 and its 200-day moving average is $11.64. Mercer International has a 52 week low of $7.75 and a 52 week high of $14.60. The company has a market capitalization of $906.37 million, a price-to-earnings ratio of 23.76 and a beta of 1.49.
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In related news, Director James Shepherd sold 4,560 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $10.91, for a total value of $49,749.60. Following the transaction, the director now owns 31,450 shares in the company, valued at approximately $343,119.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric Lauritzen sold 5,000 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $10.96, for a total transaction of $54,800.00. Following the completion of the transaction, the director now owns 64,085 shares in the company, valued at approximately $702,371.60. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 2,858,743 shares of company stock valued at $35,311,751 and sold 218,060 shares valued at $2,627,085. Company insiders own 4.90% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC increased its holdings in Mercer International by 9.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,478 shares of the basic materials company’s stock worth $224,000 after buying an additional 1,654 shares during the period. Renaissance Group LLC increased its holdings in Mercer International by 9.7% in the 2nd quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock worth $449,000 after buying an additional 3,434 shares during the period. Geode Capital Management LLC grew its stake in shares of Mercer International by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 283,990 shares of the basic materials company’s stock worth $3,322,000 after purchasing an additional 8,231 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Mercer International by 11.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 240,556 shares of the basic materials company’s stock worth $2,767,000 after purchasing an additional 23,872 shares during the period. Finally, Nationwide Fund Advisors grew its stake in shares of Mercer International by 16.5% during the 2nd quarter. Nationwide Fund Advisors now owns 216,961 shares of the basic materials company’s stock worth $2,495,000 after purchasing an additional 30,661 shares during the period. Institutional investors own 79.88% of the company’s stock.
Mercer International Company Profile
Mercer International Inc is a producer of northern bleached softwood kraft (NBSK) pulp, which is pulp that is sold on the open market. The Company also produces and sells tall oil, a by-product of its production process, which is used as both a chemical additive and as a green energy source. It produces and sells NBSK pulp, which is a bleached kraft pulp manufactured using northern softwood.
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