Mercer International (NASDAQ:MERC – Get Free Report) TSE: MRI.U had its target price boosted by equities researchers at Raymond James from $7.50 to $8.50 in a report issued on Tuesday, BayStreet.CA reports. The firm presently has a “market perform” rating on the basic materials company’s stock. Raymond James’ price objective suggests a potential upside of 8.42% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. CIBC upgraded Mercer International from a “sector underperform” rating to a “neutral” rating and boosted their target price for the stock from $8.00 to $9.00 in a research note on Friday, January 12th. TD Securities upped their target price on shares of Mercer International from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday, November 6th. Finally, StockNews.com upgraded shares of Mercer International to a “sell” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.92.
Mercer International Stock Up 2.9 %
Shares of NASDAQ MERC traded up $0.22 during mid-day trading on Tuesday, hitting $7.84. The company had a trading volume of 148,336 shares, compared to its average volume of 249,923. The company has a market capitalization of $521.60 million, a PE ratio of -3.86 and a beta of 1.36. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.97 and a quick ratio of 2.40. Mercer International has a 1-year low of $7.37 and a 1-year high of $12.96. The business’s 50-day simple moving average is $9.05 and its 200 day simple moving average is $8.82.
Institutional Trading of Mercer International
Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Mercer International by 2.9% in the second quarter. Geode Capital Management LLC now owns 436,073 shares of the basic materials company’s stock valued at $3,519,000 after buying an additional 12,335 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Mercer International by 13.7% in the third quarter. Ameriprise Financial Inc. now owns 264,007 shares of the basic materials company’s stock valued at $2,265,000 after buying an additional 31,879 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Mercer International by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 226,021 shares of the basic materials company’s stock valued at $1,824,000 after buying an additional 4,005 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Mercer International by 8.4% in the third quarter. Rhumbline Advisers now owns 68,883 shares of the basic materials company’s stock valued at $591,000 after buying an additional 5,313 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in Mercer International by 83.8% during the fourth quarter. State of Tennessee Treasury Department now owns 51,160 shares of the basic materials company’s stock worth $595,000 after purchasing an additional 23,320 shares in the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.
Mercer International Company Profile
Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) pulp in Europe, the United States, Asia, and internationally. The company operates through two segments, Pulp and Wood Products. It also generates and sells green energy produced from biomass cogeneration power plant to third party utilities.