Mercer International (NASDAQ:MERC) Price Target Increased to $8.50 by Analysts at Raymond James

Mercer International (NASDAQ:MERCFree Report) (TSE:MRI.U) had its price target lifted by Raymond James from $7.50 to $8.50 in a research report report published on Tuesday morning, BayStreet.CA reports. The brokerage currently has a market perform rating on the basic materials company’s stock. Raymond James also issued estimates for Mercer International’s Q4 2023 earnings at ($0.74) EPS and FY2023 earnings at ($3.08) EPS.

MERC has been the topic of a number of other research reports. StockNews.com raised Mercer International to a sell rating in a report on Thursday, February 1st. CIBC raised Mercer International from a sector underperform rating to a neutral rating and increased their price objective for the company from $8.00 to $9.00 in a report on Friday, January 12th. Finally, TD Securities increased their price objective on Mercer International from $9.00 to $10.00 and gave the company a hold rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $8.92.

Read Our Latest Research Report on Mercer International

Mercer International Stock Performance

Shares of MERC stock opened at $7.93 on Tuesday. 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 fifty-two week low of $7.37 and a fifty-two week high of $12.22. The stock’s 50-day moving average is $8.91 and its two-hundred day moving average is $8.80. The firm has a market cap of $527.58 million, a P/E ratio of -3.91 and a beta of 1.36.

Institutional Trading of Mercer International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Mercer International in the 3rd quarter valued at approximately $296,000. Bank of New York Mellon Corp lifted its position in shares of Mercer International by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 226,021 shares of the basic materials company’s stock worth $1,824,000 after acquiring an additional 4,005 shares during the period. Rhumbline Advisers lifted its position in shares of Mercer International by 6.6% in the 1st quarter. Rhumbline Advisers now owns 65,454 shares of the basic materials company’s stock worth $640,000 after acquiring an additional 4,038 shares during the period. UBS Asset Management Americas Inc. lifted its position in shares of Mercer International by 21.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 50,254 shares of the basic materials company’s stock worth $618,000 after acquiring an additional 8,906 shares during the period. Finally, State of Tennessee Treasury Department lifted its position in shares of Mercer International by 83.8% in the 4th quarter. State of Tennessee Treasury Department now owns 51,160 shares of the basic materials company’s stock worth $595,000 after acquiring an additional 23,320 shares during the period. Institutional investors and hedge funds own 83.89% of the company’s stock.

Mercer International Company Profile

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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.

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Analyst Recommendations for Mercer International (NASDAQ:MERC)

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