Materials · Pulp Mills · Nasdaq · CIK 1333274 · FYE Dec 31 · Prices AT CLOSE 2026-08-21 (USD) Last $0.43 · Day −1.02% · Mkt cap $29M · 1Y −86.8% · Off 52W high −87.4% · Vol (1Y) 78.2% Price2023-08-21 → 2026-08-21 MERC close: $8.9 on 2023-08-21 to $0.4 on 2026-08-21. Split-adj closes · 240 of 5,310 · price returnⓘ At a glance | Short interest4.8% of sh out | | Days to cover8.3d | | 13F net flow (QoQ)+1.33% | | Top-10 13F concentration80.5% | | Next report (est.)2026-11-05 |
SI 2026-07-31 · 13F 2026-Q1ⓘ Key fundamentalsFY 2025 | Sales (TTM)$1.86B | | Earnings (TTM)-$517.5M | | ROE−200.0% | | Net margin−26.7% | | ROIC−19.6% | | Debt / equity23.58× | | Sales growth 3Y−6.4% |
FY ratios · TTM sales/earnings (USD)ⓘ Trailing returns | YTD−78.5% | | 1Y−86.8% | | 3Y−94.8% | | 5Y−95.6% | | 10Y−92.7% | | Since incept. (ann.)−10.9% |
Total return · from 2005-07-11ⓘ Risk | Ann. volatility (1Y)78.2% | | Ann. volatility (3Y)63.4% | | Sharpe (1Y)−2.20 | | Sharpe (3Y)−1.25 | | Max drawdown (1Y)−87.2% | | Max drawdown (3Y)−95.8% | | Beta (3Y vs SPY)0.38 |
Daily returns, ann.ⓘ Top institutional holders13F 2026-Q1 | Manager | Shares | Value | % sh out | QoQ |
|---|
| IAT REINSURANCE CO LTD. | 17.2M | $24M | 25.71% | +0.0% | | REDWOOD CAPITAL MANAGEMENT, LLC | 4.6M | $7M | 6.94% | +0.0% | | BARCLAYS PLC | 3.3M | $5M | 4.96% | +349.1% | | TORONTO DOMINION BANK | 3.3M | $5M | 4.93% | +0.0% | | Atlas FRM LLC | 3.1M | $4M | 4.70% | +0.0% | | DIMENSIONAL FUND ADVISORS LP | 2.6M | $4M | 3.81% | −9.4% | | READYSTATE ASSET MANAGEMENT LP | 1.4M | $2M | 2.07% | −45.8% | | BlackRock, Inc. | 1.1M | $2M | 1.65% | +5.9% |
Δ vs 2025-Q4ⓘ Latest reported quarterslast report 2026-08-06 | Period end | Reported | EPS | EPS YoY | Revenue | Rev YoY |
|---|
| 2026-06-30 | 2026-08-06 | −$1.13 | — | $460.3M | +1.5% | | 2026-03-31 | 2026-05-07 | −$0.78 | — | $489.3M | −3.5% | | 2025-12-31 | 2026-02-12 | −$4.61 | −1944.0% | $449.5M | −8.0% | | 2025-09-30 | 2025-11-06 | −$1.21 | — | $458.1M | −8.8% |
As-reported XBRL · next 2026-11-05 est.ⓘ Segment mixFY2025 (ended Dec 2025) Foreign Countries 46% · CN 16% · Other Countries 16% · DE 14% · US 9% geographic · TAGGED revenueⓘ Basis & disclosures - EOD closes · nothing imputed or averaged · absent “—”
- As-of differs by block · 13F = US long, 45+d lag, LOWER bound
- Not investment advice · no recommendation, price target or solicitation
- EDGAR + foreign registers · marketstack (licensed EOD) · spzco.com/methodology
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