Mercer International Inc. (MERC) Rating Increased to Outperform at Royal Bank Of Canada

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) was upgraded by Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Wednesday.

A number of other equities analysts also recently issued reports on the company. BidaskClub upgraded Mercer International from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. TD Securities increased their price objective on Mercer International from $13.00 to $15.75 and gave the stock a “hold” rating in a report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Mercer International presently has an average rating of “Hold” and a consensus price target of $15.25.

Mercer International (MERC) traded down 0.37% during mid-day trading on Wednesday, reaching $13.50. 319,206 shares of the company traded hands. Mercer International has a 12-month low of $7.60 and a 12-month high of $13.74. The stock has a market capitalization of $877.14 million, a price-to-earnings ratio of 23.00 and a beta of 1.49. The company’s 50-day moving average is $11.64 and its 200-day moving average is $11.51.

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In related news, major shareholder Peter R. Kellogg bought 2,658,743 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were purchased at an average cost of $12.41 per share, with a total value of $32,995,000.63. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jimmy S. H. Lee sold 25,000 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $12.12, for a total value of $303,000.00. The disclosure for this sale can be found here. Over the last three months, insiders bought 2,858,743 shares of company stock worth $35,311,751 and sold 172,560 shares worth $1,960,910. Corporate insiders own 4.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its position in shares of Mercer International by 17.8% during the first quarter. Parametric Portfolio Associates LLC now owns 17,824 shares of the basic materials company’s stock valued at $209,000 after buying an additional 2,689 shares during the last quarter. Renaissance Group LLC boosted its position in shares of Mercer International by 9.7% during the second quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock valued at $449,000 after buying an additional 3,434 shares during the last quarter. Nationwide Fund Advisors boosted 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 valued at $2,495,000 after buying an additional 30,661 shares during the last quarter. Bank of New York Mellon Corp boosted 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 valued at $2,767,000 after buying an additional 23,872 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Mercer International by 3.0% during the first quarter. Geode Capital Management LLC now owns 283,990 shares of the basic materials company’s stock valued at $3,322,000 after buying an additional 8,231 shares during the last quarter. 80.15% of the stock is currently owned by institutional investors.

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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