Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U had its target price dropped by CIBC from $7.00 to $6.00 in a research note issued on Tuesday, MarketBeat reports. The firm currently has a "neutral" rating on the basic materials company's stock. CIBC's target price points to a potential upside of 34.23% from the company's previous close.
Separately, Raymond James lowered their price target on Mercer International from $7.50 to $7.00 in a report on Thursday, January 30th.
Read Our Latest Stock Analysis on Mercer International
Mercer International Price Performance
Shares of NASDAQ MERC traded down $0.05 during midday trading on Tuesday, reaching $4.47. The stock had a trading volume of 493,974 shares, compared to its average volume of 389,085. The company has a market capitalization of $298.91 million, a price-to-earnings ratio of -3.52 and a beta of 1.26. Mercer International has a 12-month low of $4.35 and a 12-month high of $11.20. The stock has a 50-day moving average of $6.14 and a 200-day moving average of $6.38. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.39 and a current ratio of 3.79.
Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.23. Mercer International had a negative return on equity of 5.18% and a negative net margin of 4.17%. The business had revenue of $488.41 million during the quarter, compared to analyst estimates of $497.00 million. As a group, research analysts anticipate that Mercer International will post -0.29 EPS for the current fiscal year.
Institutional Investors Weigh In On Mercer International
Several large investors have recently made changes to their positions in MERC. KLP Kapitalforvaltning AS purchased a new position in Mercer International during the 4th quarter valued at approximately $58,000. Entropy Technologies LP grew its holdings in shares of Mercer International by 56.0% in the fourth quarter. Entropy Technologies LP now owns 17,270 shares of the basic materials company's stock valued at $112,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Mercer International by 1.7% in the third quarter. Geode Capital Management LLC now owns 525,532 shares of the basic materials company's stock worth $3,559,000 after purchasing an additional 8,957 shares during the last quarter. 85.79% of the stock is owned by institutional investors.
About Mercer International
(
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Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.
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