In a report released on July 19, Paul Quinn from RBC Capital maintained a Hold rating on Mercer International (MERC – Research Report), with a price target of $8.00. The company’s shares closed yesterday at $8.43.
According to TipRanks, Quinn is a top 100 analyst with an average return of 19.5% and a 60.69% success rate. Quinn covers the Basic Materials sector, focusing on stocks such as Clearwater Paper, Louisiana-Pacific, and Rayonier Advanced Materials.
Currently, the analyst consensus on Mercer International is a Moderate Sell with an average price target of $8.67.
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Based on Mercer International’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $522.67 million and a GAAP net loss of $30.58 million. In comparison, last year the company earned a revenue of $592.74 million and had a net profit of $88.9 million
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MERC in relation to earlier this year.
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Mercer International, Inc. is engaged in the manufacture and sale of pulp. It operates through Pulp and Wood Products segments. The Pulp segment consists of the manufacture, sales, and distribution of NBSK pulp, electricity, and other by-products at three pulp mills. The Wood Products segment involves in manufacture, sales, and distribution of lumber, electricity and other wood residuals at the Friesau Facility. The company was founded on July 1, 1968 and is headquartered in Vancouver, Canada.
Read More on MERC:
- Mercer International Inc. Announces Conference Call for Second Quarter 2023 Results
- Ex-Dividend Date Nearing for These 10 Stocks – Week of June 26, 2023
- Mercer International Inc. Announces the Completion of the Acquisition of Structurlam Mass Timber Assets
- Mercer International Inc. Receives Court Sales Order Approval to Acquire Structurlam Mass Timber Assets
- Mercer International Inc. Releases 2022 Sustainability Report
