Mercer International (MERC) : Traders are bullish on Mercer International (MERC) as it has outperformed the S&P 500 by a wide margin of 1.56% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.24%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.2% in the last 1 week, and is up 1.95% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Mercer International Inc. has dropped 4.93% during the last 3-month period . Year-to-Date the stock performance stands at -5.15%. The stock has recorded a 20-day Moving Average of 2.85% and the 50-Day Moving Average is 2.48%.
Mercer International (NASDAQ:MERC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.25 and $8.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.42. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.35, notching a gain of 0.60% for the day. The total traded volume was 148,275 . The stock had closed at $8.30 on the previous day.
Also, Equity Analysts at the Brokerage Firm, TD Securities, downgrades their rating on the shares of Mercer International (NASDAQ:MERC). TD Securities has a Hold rating on the shares. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on April 29, 2016.
Mercer International Inc. (Mercer) operates in the pulp industry. The Company produces bleached softwood kraft (NBSK) pulp. It also produces pulp for resale, known as market pulp, in Germany. The Company generates and sells green energy to regional utilities. Its operations are located in Eastern Germany and Western Canada. It operates three NBSK pulp mills. The Companys wholly owned subsidiary, Rosenthal, owns and operates the Rosenthal mill, which has an annual production capacity of approximately 360,000 ADMTs and 57 MW of electrical generation. The Companys subsidiary, Stendal owns and operates the Stendal mill, which has an annual production capacity of approximately 660,000 ADMTs and 148 MW of electrical generation. The Companys wholly owned subsidiary, Celgar, owns and operates the Celgar mill, which is a NBSK pulp mill with an annual production capacity of approximately 520,000 ADMTs and 100 MW of electrical generation.