MERC Mercer International Inc
XNAS
0.25
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
MERC
$0.25
—
What changed
Recent filings, trades and movesKey stats
$0.25
- 52-Week Range
- $0.12 – $2.85
- YTD
- -87.42%
- Straddle Price
- $0.45
- P/C Vol Ratio
- 2.58
- Market Cap
- $0.0B
- Open
- $0.25
- Day Range
- $0.23 – $0.25
- Volume
- 1,246,616
- Prev Close
- $0.26
Fair Value
+50.0% vs price
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 4.90% |
| Beta vs SPY | 0.81 |
| Cost of Equity (CAPM) | 8.96% (VRP-adj) |
| WACC | 5.15% |
| Volatility Risk Premium | +232.3pp (IV − HV30) |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | +7.9% |
| DCF Horizon | 5 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.08 (applied to P/E, EV/EBITDA, P/S) |
| Free Cash Flow (TTM) | $-0.2B |
| Return on Equity (TTM) | 528.1% |
| Book / Price | -31.8% |
| Gross Margin (TTM) | -3.7% |
| FCF Margin (TTM) | -8.3% |
| Quality Score | 1/6 — cyclical/struggling (5y DCF) |
| SMA 50 | $0.27 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $0.18 |
| Bollinger Width / SMA20 | 103.3% (drives anchor stability) |
| Net Debt | $1.4B |
| Market Cap | $0B |
Peers used for multiples: APD, FCX, LIN, MLM, NEM, NUE, STLD, VMC
Blended Fair Value
$20.94
Deviation
+50.0%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | n/a | 0% | |
| DDM (Gordon) | n/a | 0% | |
| Peer P/E | n/a | 0% | median 19.4× · 7 peers |
| Peer EV/EBITDA | n/a | 0% | median 14.3× · 8 peers |
| Peer P/B | n/a | 0% | median 3.8× · 8 peers |
| Peer P/S | $138.03 | 15% | median 4.6× · 8 peers |
| Market Anchor (SMA50) | $0.27 | 85% | stability 85% (BB-width) |
| Options Expected (B-L 30d) | n/a | 0% |
As of 2026-11-09 · updated
Related
About
- Industry (SIC)
- PULP MILLS (2611) · industry map
- Exchange
- XNAS
- Market Cap
- $0.0B
- Employees
- 3,545
- List Date
- 1988-07-19
- CIK
- 0001333274
- Last Earnings
- Nov 5 after close · +4.0% vs ±90.2% expected
- Next Earnings
- ~Feb 11, 2027 (estimated)
- Headquarters
- Vancouver, A1
- Homepage
- https://www.mercerint.com
Mercer International Inc is a forest products company with two reportable operating segments in pulp and solid wood. The pulp segment consists of the manufacture, sale, and distribution of pulp, electricity, and chemicals. The company has a geographical presence in the USA, Germany, China, and Other countries, where the maximum of revenue is generated from the China. The majority of the revenue is generated from the Pulp segment.
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 10.14% | 0.33% | 9.74% | -10.29% | 5.32% | 3.57% | 3.14% |
| Feb | 29.49% | 7.22% | -15.98% | 11.00% | 20.00% | -7.22% | 7.42% |
| Mar | -8.23% | 6.81% | -9.57% | 4.85% | -20.85% | -20.67% | -7.94% |
| Apr | 12.79% | 13.31% | 0.31% | 1.00% | -24.49% | -18.84% | -2.65% |
| May | -8.14% | -4.46% | -10.12% | -7.23% | -14.96% | -19.13% | -10.67% |
| Jun | -12.67% | -10.36% | -4.61% | -7.78% | -3.31% | -28.17% | -11.15% |
| Jul | -8.28% | 20.00% | 7.36% | -5.22% | 1.92% | -6.69% | 1.51% |
| Aug | -1.04% | 0.43% | 3.77% | -14.89% | 10.26% | -41.67% | -7.19% |
| Sep | 1.67% | -25.23% | -6.54% | 16.12% | -8.86% | -19.88% | -7.12% |
| Oct | -7.47% | 3.95% | -3.29% | -5.37% | -26.06% | -62.76% | -16.83% |
| Nov | -0.47% | 6.98% | 25.23% | -4.19% | -5.24% | 96.03%* | 19.72% |
| Dec | 10.41% | -14.66% | 0.42% | 7.26% | 12.50% | -- | 3.19% |
| Total | 11.12% | -4.65% | -9.19% | -17.82% | -49.86% | -88.56% | -26.49% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $0.18
SMA 50: $0.27
SMA 200: $0.89
Current: $0.25
EMA 12: $0.20
EMA 26: $0.21
MACD: -0.0110 | Signal: 0.0212
BEARISH
ADX (14): 40.72
STRONG TREND
+DI: 32.11
−DI: 12.91
Momentum Oscillators
RSI (14): 56.86
NEUTRAL
Stoch %K: 56.26
Stoch %D: 54.33
Williams %R: -45.85
Volume & Volatility
BB Upper: $0.27
BB Lower: $0.08
NEUTRAL
OBV: 504,660,062
Vol SMA 20: 35,975,535
Vol ROC: 22.50%
ATR: $0.04
True Range: $0.03
HV 20: 261.9%
HV 30: 231.7%
HV 60: 167.6%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-08T00:00:00 – 2026-11-06T00:00:00
AI Analysis
Written before MERC’s Nov 5 earnings report, so it doesn’t reflect the results.
LLM Stock Analysis Report
Executive Summary
Overall assessment: BEARISH with confidence level (6/10) Key drivers and primary risks: * Bearish momentum signals from MACD and RSI * High volatility and beta indicating increased risk * Recent negative news sentiment and earnings misses * Strong support at $0.82, but critical price levels above that may trigger significant moves
Recent news sentiment impact: Recent positive news headlines have had little impact on the stock price, as the bearish momentum has prevailed.
Technical Analysis
Trend Direction: Short-term: BEARISH (1-4 weeks), Medium-term: NEUTRAL (1-3 months), Long-term: BEARISH (3-12 months)
Support/Resistance Levels: Key price levels include: * $0.82 (strong support) * $1.01 (current price) * $1.16 (SMA 50 resistance) * $2.03 (SMA 200 resistance)
Momentum Signals: * RSI interpretation: Neutral zone (30-70), but trending lower * MACD signal: Bearish crossover * Bollinger Bands position: Squeeze and breakout potential
Volume Analysis: Volume trends: * Current volume is below average, indicating bearish sentiment * Institutional interest signals: + Put/call ratio: 0.22 (bullish) + Open interest in calls: 36 vs puts: 7 (bullish)
News & Sentiment Analysis
Recent Headlines Summary: Recent headlines have been mixed, with some positive news having little impact on the stock price.
Sentiment Assessment: Aggregate sentiment is NEUTRAL, but bearish momentum signals outweigh positive news.
Catalyst Identification: None significant in recent period.
Market Narrative: News has had limited impact on the stock price, which has been driven by technical indicators and market volatility.
Risk & Volatility Assessment
Beta Interpretation: High risk relative to market (beta: 2.00)
Volatility Regime: Current vs historical volatility levels: * Historical volatility: HV20 105.9%, HV30 93.4%, HV60 81.9% * IV Premium vs HV30: 198.4% (positive = implied richer than realized)
Options Market Signals: * IV Rank: 44.9% (Medium - shows if volatility is historically high/low) * Current IV: 278.6%
Downside Protection: Support levels and risk management considerations: * Critical price levels above $0.82 may trigger significant moves
Market Context & Positioning
Sector Performance: Relative strength vs sector/market: * Weak performance in the sector, contributing to bearish momentum
Institutional Activity: Volume patterns suggesting institutional interest: * Put/call ratio: 0.22 (bullish) * Open interest in calls: 36 vs puts: 7 (bullish)
Correlation Analysis: How stock moves relative to market (R-squared interpretation): * Correlation coefficient: 0.33, indicating increased risk
Relative Valuation: Position within trading range: * The stock is trading near the lower end of its historical range
Key Levels & Action Items
Critical Price Levels: Support/resistance levels to monitor: * $0.82 (strong support) * $1.16 (SMA 50 resistance) * $2.03 (SMA 200 resistance)
Breakout/Breakdown Levels: Technical levels that could trigger significant moves: * Above $1.01, potential for a breakout
Time-Sensitive Catalysts: Earnings dates, FDA approvals, product launches: * No upcoming events of significance
Risk Management: Stop-loss levels and position sizing considerations: * Consider placing stop-loss orders at $0.82 to limit downside risk
Generated
News
All MERC news →
Debt-for-equity swap and $400 million in new capital reshape Mercer's balance sheet.
Canadian pulp producer Mercer International Inc. is laying the groundwork for a potential Chapter 11 bankruptcy filing, according to people familiar with the matter.
Earnings History
19 of 19 under expected move
Avg Expected Move
24.10%
Avg Actual Move
2.38%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2022-02-17 | Pre-Market | 6.41% | 2.32% | 0.36x | Within |
| 2022-04-28 | Pre-Market | 20.52% | 3.29% | 0.16x | Within |
| 2022-07-28 | Pre-Market | 4.70% | 1.13% | 0.24x | Within |
| 2023-02-16 | Pre-Market | 8.53% | 1.29% | 0.15x | Within |
| 2023-05-04 | Pre-Market | 8.75% | 1.46% | 0.17x | Within |
| 2023-08-03 | Pre-Market | 14.94% | 2.45% | 0.16x | Within |
| 2023-09-19 | Pre-Market | 11.91% | 0.81% | 0.07x | Within |
| 2024-02-15 | Pre-Market | 10.42% | 1.56% | 0.15x | Within |
| 2024-05-09 | Pre-Market | 7.71% | 0.37% | 0.05x | Within |
| 2024-08-08 | Pre-Market | 19.62% | 1.08% | 0.06x | Within |
| 2024-10-21 | Pre-Market | 22.76% | 6.27% | 0.28x | Within |
| 2024-10-31 | After-Close | 12.65% | 1.23% | 0.10x | Within |
| 2025-05-01 | Pre-Market | 16.78% | 5.82% | 0.35x | Within |
| 2025-07-31 | Pre-Market | 14.93% | 7.71% | 0.52x | Within |
| 2025-11-06 | Pre-Market | 39.06% | 2.08% | 0.05x | Within |
| 2026-02-12 | Pre-Market | 30.35% | 1.73% | 0.06x | Within |
| 2026-05-07 | Pre-Market | 58.56% | 0.00% | 0.00x | Within |
| 2026-08-06 | Pre-Market | 59.09% | 0.24% | 0.00x | Within |
| 2026-11-05 | After-Close | 90.25% | 4.29% | 0.05x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
MERC Options Activity & IV Rank
Volatility Metrics
Current IV: —
7-DTE IV: —
Expected Move: $0.45
7-DTE Move: $0.30
Days to Exp: 39 (2026-12-18)
Options Flow · All expiries
Call Volume: 200
Put Volume: 516
P/C Volume: 2.58
BEARISH
Call OI: 6,107
Put OI: 28,298
P/C OI: 4.634
Total OI: 34,405
ATM Options Pricing
ATM Call: $0.03
ATM Put: $0.42
Call %: 10.1%
Put %: 172.4%
Chain Summary
Chain Volume: 716
Chain OI: 34,405
Last Updated: 11/9/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
LOW γ vs HISTORY
Estimated net dealer gamma is at the 5th percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
5%
vs own history
GEX tilt
-0.99
OI-weighted, today
Vanna tilt
-0.92
δ-sensitivity to IV
Charm tilt
+1.00
δ-decay vs time
Vanna tilt -0.92: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt +1.00: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 3 ATM contracts, 1k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
No data
30 DTE / 10d
—
—
pts
EXTREME
No data
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)$0.45Nov 9
Beta Analysis
Risk Metrics
Beta: 1.6937
Alpha: -160.05%
Correlation: 0.1999
R-Squared: 4.0%
Stock Volatility: 116.7%
Market Volatility: 13.8%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own MERC
3 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Renaissance Technologies Hedge fund Jim Simons | $41K | #3061 of 3138 | +290.4% | 13F | |
| Citadel Hedge fund Ken Griffin | $16K | #6202 of 6285 | -85.7% | 13F | |
| Point72 Hedge fund Steve Cohen | $8K | #1940 of 1945 | -40.7% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
MERC Institutional Ownership (13F)
Filings for 2026-06-30 · 18 already for 2026-09-30
? 13F Guide
Diluted shares outstanding: 66,944,434 (as of 2026-03-31)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
2 filers$53.61K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $41.38K | 77.19% | 2026-06-30 |
| 2 | WOLVERINE ASSET MANAGEMENT LLC | $12.23K | 22.81% | 2026-09-30 |
1 filers$8.32K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | WOLVERINE ASSET MANAGEMENT LLC | $8.32K | 100.00% | 2026-09-30 |
MERC Insider Trading (Form 4)
Latest: 2026-07-08Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-07-08 | Peter R Kellogg | 10%+ Owner | — | — | — | EDGAR | |
| 2026-07-08 | Peter R Kellogg | 10%+ Owner | Buy (P) | +419,743 | $0.86 | $362.7K | EDGAR |
| 2017-06-22 | Eric Lauritzen | Director | Sell (S) | −6,000 | $11.72 | -$70.3K | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
MERC Insider Holdings
1 insider · @ $0.25
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Peter R Kellogg | 10%+ Owner | 2,370,231 | $585.4K | $362.7K | 2 | 2026-07-08 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
MERC Board & Officers
As of SEC filings through Jul 8, 2026Directors 10
- William McCartney · on file since Jun 2006
- James Shepherd · since Jun 2, 2011
- Alan C. Wallace · since Jun 1, 2018
- Linda J Welty · since Jun 1, 2018
- Rainer Rettig · since Feb 14, 2020
- Alice Laberge · since Feb 17, 2021
- Janine North · since Feb 17, 2021
- Estrada Juan Carlos Bueno · listed since May 2023
- Thomas Kevin Corrick · since May 31, 2023
- Markwart von Pentz · since May 30, 2025
Officers 11
- Estrada Juan Carlos Bueno · CEO & President · listed since May 2023
- Richard George Short · CFO and SECRETARY · listed since Feb 2024
- Carsten Merforth · COO, Wood Products · since Aug 22, 2022
- Adolf Koppensteiner · COO, Pulp Products · listed since Feb 2023
- Guy Arguin · Chief Human Resources Officer · since Jan 10, 2022
- Wolfram Ridder · VP Business Development · listed since Mar 2009
- Eric Xavier Heine · VP,Sales,Marketing&Logistics · listed since May 2014
- Genevieve Stannus · VP, Treasurer · listed since Feb 2022
- Cynthia Margaret Alekson · VP, Controller · since Apr 1, 2023
- Wolfgang Beck · Sr. VP, Global Wood Sourcing · listed since May 2025
- William McCartney · Chairperson · listed since Jun 2025
10% owners 1
- Peter R Kellogg · on file since Nov 2008
Changes in the last 10 years (31)
| Jun 3, 2025 | William McCartney first listed as Chairperson in an SEC filing |
| May 30, 2025 | Markwart von Pentz became a director |
| May 9, 2025 | Wolfgang Beck listed as Sr. VP, Global Wood Sourcing (previously Senior VP, Global Product) in SEC filings |
| Feb 26, 2024 | The company announced the departure of Jimmy S H Lee from the board in an SEC filing |
| Feb 26, 2024 | The company announced the departure of Jimmy S H Lee as Executive Chairman in an SEC filing |
| Feb 16, 2024 | Richard George Short listed as CFO and SECRETARY (previously VP, Controller) in SEC filings |
| May 31, 2023 | Torbjoern Loeoef became a director |
| May 31, 2023 | Thomas Kevin Corrick became a director |
| May 8, 2023 | Estrada Juan Carlos Bueno listed as CEO & President (previously Chief Executive Officer & Pres) in SEC filings |
| May 8, 2023 | Estrada Juan Carlos Bueno first listed as a director in an SEC filing |
| Apr 1, 2023 | Cynthia Margaret Alekson became VP, Controller |
| Feb 17, 2023 | Adolf Koppensteiner listed as COO, Pulp Products (previously Chief Operating Officer) in SEC filings |
| Feb 16, 2023 | Wolfgang Beck became Senior VP, Global Product |
| Aug 22, 2022 | Carsten Merforth became COO, Wood Products |
| May 1, 2022 | Estrada Juan Carlos Bueno became Chief Executive Officer & Pres |
| Mar 14, 2022 | The company announced the departure of David M Gandossi as Chief Executive Officer in an SEC filing |
| Feb 17, 2022 | Wolfram Ridder no longer listed as a director in SEC filings |
| Feb 17, 2022 | Genevieve Stannus listed as VP, Treasurer (previously Treasurer) in SEC filings |
| Feb 17, 2022 | David Kent Ure listed as Senior Vice President, Finance (previously Chief Financial Officer) in SEC filings |
| Jan 10, 2022 | Guy Arguin became Chief Human Resources Officer |
| Mar 19, 2021 | Wolfram Ridder first listed as a director in an SEC filing |
| Feb 17, 2021 | Janine North became a director |
| Feb 17, 2021 | Alice Laberge became a director |
| Feb 14, 2020 | Rainer Rettig became a director |
| Feb 14, 2020 | Brian Merwin listed as VP, Corporate Development (previously VP Strategic Initiatives) in SEC filings |
| Jun 1, 2018 | Linda J Welty became a director |
| Jun 1, 2018 | Alan C. Wallace became a director |
| Feb 21, 2018 | David Kent Ure listed as Chief Financial Officer (previously CFO and Secretary) in SEC filings |
| Jan 1, 2018 | Adolf Koppensteiner became Chief Operating Officer |
| Dec 13, 2017 | David M Gandossi listed as Chief Executive Officer (previously CEO and President) in SEC filings |
| Jun 1, 2017 | Martha A M Morfitt first on file as a director |
Not reported recently (11)
- Torbjoern Loeoef · Last reported as a director in an SEC filing dated Jul 5, 2024
- Leonhard Nossol · Last reported as Group Controller for Europe in an SEC filing dated Feb 16, 2024
- Brian Merwin · Last reported as VP, Corporate Development in an SEC filing dated Feb 16, 2024
- Keith Purchase · Last reported as a director in an SEC filing dated May 2, 2023
- David Kent Ure · Last reported as Senior Vice President, Finance in an SEC filing dated Feb 17, 2023
- David M Gandossi · Last reported as a director in an SEC filing dated Feb 17, 2022
- Martha A M Morfitt · Last reported as a director in an SEC filing dated Jun 3, 2020
- Bernard Picchi · Last reported as a director in an SEC filing dated Jun 8, 2018
- Eric Lauritzen · Last reported as a director in an SEC filing dated May 22, 2018
- Nancy Orr · Last reported as a director in an SEC filing dated Mar 19, 2018
- David Michael Cooper · Last reported as VP Sales & Marketing Europe in an SEC filing dated Feb 27, 2017
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
Recent SEC Filings
Latest: 2026-11-05
Current reports — material events the company must disclose within 4 business days (earnings releases, M&A, executive changes, etc.).
| Filing Date | Event | Link |
|---|---|---|
| 2026-11-05 | Earnings results | EDGAR |
| 2026-11-03 | Material agreement · Regulation FD disclosure | EDGAR |
| 2026-10-02 | Regulation FD disclosure | EDGAR |
| 2026-08-26 | Regulation FD disclosure | EDGAR |
| 2026-08-06 | Earnings results | EDGAR |
| 2026-07-14 | Regulation FD disclosure | EDGAR |
| 2026-07-10 | Listing standards notice | EDGAR |
| 2026-06-30 | Regulation FD disclosure | EDGAR |
| 2026-06-01 | Shareholder vote results | EDGAR |
Annual report — audited financial statements, MD&A, risk factors. Filed 60–90 days after fiscal year-end.
| Filing Date | Accession | Link |
|---|
ETF Holders
11 ETFs hold MERC
11 shown · $596.50K total exposure · 0.00% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | VXF Vanguard Extended Market ETF | Vanguard | 0.00% | $147,707 | — | 2026-09-30 |
| 2 | DFAT Dimensional US Targeted Value ETF | Dimensional | 0.00% | $94,254 | — | 2026-11-05 |
| 3 | SCHA Schwab U.S. Small-Cap ETF | Nport | 0.00% | $84,763 | — | 2026-08-31 |
| 4 | DFSV Dimensional US Small Cap Value ETF | Dimensional | 0.00% | $79,866 | — | 2026-11-05 |
| 5 | BSVO EA Bridgeway Omni Small-Cap Value ETF | Nport | 0.00% | $67,146 | — | 2026-06-30 |
| 6 | DFAS Dimensional US Small Cap ETF | Dimensional | 0.00% | $40,349 | — | 2026-11-05 |
| 7 | VAW Vanguard Materials ETF | Vanguard | 0.00% | $35,325 | — | 2026-09-30 |
| 8 | DFAC Dimensional US Core Equity 2 ETF | Dimensional | 0.00% | $25,391 | — | 2026-11-05 |
| 9 | DFMC Dimensional US Micro Cap ETF | Dimensional | 0.00% | $15,634 | — | 2026-11-05 |
| 10 | DXUV Dimensional US Vector Equity ETF | Dimensional | 0.00% | $5,838 | — | 2026-11-05 |
| 11 | DFAU Dimensional US Core Equity Market ETF | Dimensional | 0.00% | $227 | $12.6B | 2026-11-05 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
$-7.89
TTM Revenue
$1.85B
TTM Net Income
$-527.55M
TTM Op. Cash Flow
$-74.09M
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q1 '26 | 2026-03-31 | $489.30M | $-52.00M | $-0.78 | $-85.67M |
| Q4 '25 | 2025-12-31 | $449.50M | $-308.70M | $-4.61 | $46.16M |
| Q3 '25 | 2025-09-30 | $458.07M | $-80.78M | $-1.21 | $-30.05M |
| Q2 '25 | 2025-06-30 | $453.52M | $-86.07M | $-1.29 | $-4.53M |
| Q1 '25 | 2025-03-31 | $506.97M | $-22.34M | $-0.33 | $-2.99M |
| Q4 '24 | 2024-12-31 | $488.40M | $16.71M | $0.26 | $71.16M |
| Q3 '24 | 2024-09-30 | $502.14M | $-17.56M | $-0.26 | $-13.95M |
| Q2 '24 | 2024-06-30 | $499.38M | $-67.59M | $-1.01 | $62.19M |
| Q1 '24 | 2024-03-31 | $553.43M | $-16.70M | $-0.25 | $-29.19M |
| Q4 '23 | 2023-12-31 | $470.49M | $-87.22M | $-1.32 | $-8.72M |
| Q3 '23 | 2023-09-30 | $470.82M | $-25.96M | $-0.39 | $-25.33M |
| Q2 '23 | 2023-06-30 | $529.86M | $-98.31M | $-1.48 | $14.70M |
Q1 2026 • period ending 2026-03-31 • filed 2026-05-07
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
—
P/S
0.01
EV/EBITDA
—
EV/Sales
0.78
ROE
—
ROA
-26.9%
Div Yield
29.99%
FCF Yield
-448.07%
Debt/Equity
—
Current Ratio
—
Market Cap
$16.54M
as of 2026-11-09
MERC vs Peers
Related companies, largest first| Company | Market cap | P/E | Revenue growth | YTD | IV rank |
|---|---|---|---|---|---|
| LIN Linde plc Ordinary Share | $236.5B | 34.7 | +8.2% | +21.7% | 13 |
| NEM Newmont Corporation | $125.6B | 14.7 | +23.7% | +25.0% | 33 |
| FCX Freeport-McMoran Inc. | $85.3B | 31.0 | +0.2% | +21.4% | 48 |
| APD Air Products & Chemicals, Inc. | $67.9B | 33.0 | +3.7% | +24.4% | 19 |
| NUE Nucor Corporation | $55.6B | 19.8 | +17.2% | +46.4% | 63 |
| MLM Martin Marietta Materials | $36.9B | 12.8 | +9.6% | −15.2% | 53 |
| VMC Vulcan Materials Company(Holding Company | $36.3B | 34.6 | +1.6% | +0.0% | 51 |
| STLD Steel Dynamics Inc | $31.7B | 16.7 | +26.0% | +28.8% | 59 |
| MERC Mercer International Inc | $16M | — | −7.3% | −87.4% | — |
| Peer median | $61.7B | 25.4 | +8.9% | +23.1% | 49 |
P/E uses the latest reported trailing-12-month diluted EPS; "—" means no positive earnings or no data.
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
5.59M
SI % of Float
14.28%
Days to Cover
4.97
Short Vol Ratio
43.7%
Free Float
39.13M
Float %
58.4%
Short interest 2026-10-15 • Short volume 2026-11-06 • Float 2026-08-14