Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have been assigned an average rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $16.19.
Several analysts have recently issued reports on the company. BidaskClub cut Mercer International from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. ValuEngine upgraded Mercer International from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group cut Mercer International from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 26th. Royal Bank of Canada upgraded Mercer International from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $12.00 to $15.00 in a research note on Wednesday, October 18th. Finally, CSFB cut Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, October 27th.
In other Mercer International news, major shareholder Peter R. Kellogg purchased 17,243 shares of the business’s stock in a transaction on Friday, December 8th. The shares were bought at an average cost of $13.46 per share, for a total transaction of $232,090.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Peter R. Kellogg purchased 3,500 shares of the business’s stock in a transaction on Monday, December 4th. The stock was acquired at an average price of $13.50 per share, for a total transaction of $47,250.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 141,257 shares of company stock worth $1,981,364 and sold 385,100 shares worth $5,406,848. 4.90% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of MERC. Parametric Portfolio Associates LLC raised its stake in Mercer International by 9.3% in the second quarter. Parametric Portfolio Associates LLC now owns 19,478 shares of the basic materials company’s stock valued at $224,000 after buying an additional 1,654 shares in the last quarter. Renaissance Group LLC raised its stake in Mercer International by 10.5% in the third quarter. Renaissance Group LLC now owns 43,100 shares of the basic materials company’s stock valued at $511,000 after buying an additional 4,087 shares in the last quarter. James Investment Research Inc. acquired a new stake in Mercer International in the fourth quarter valued at $1,991,000. Nationwide Fund Advisors increased its position in shares of Mercer International by 16.5% during the second 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Mercer International by 11.0% during the second 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 in the last quarter. Institutional investors own 79.47% of the company’s stock.
Shares of Mercer International (MERC) traded down $0.50 during midday trading on Friday, hitting $12.50. The stock had a trading volume of 110,091 shares, compared to its average volume of 154,899. The firm has a market capitalization of $854.98, a PE ratio of 17.43 and a beta of 1.52. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.44 and a current ratio of 3.58. Mercer International has a twelve month low of $10.45 and a twelve month high of $15.00.
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About Mercer International
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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