American Resources Corporation (NASDAQ:AREC) Receives $6.00 Average Price Target from Analysts

Shares of American Resources Corporation (NASDAQ:AREC) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $6.00.

A number of equities analysts recently issued reports on the stock. Roth Capital reiterated a “buy” rating and issued a $5.00 target price on shares of American Resources in a research report on Monday, October 13th. D. Boral Capital reaffirmed a “buy” rating and issued a $6.00 price target on shares of American Resources in a research note on Monday, December 1st. D Boral Capital upgraded shares of American Resources to a “strong-buy” rating in a report on Monday, September 15th. William Blair initiated coverage on shares of American Resources in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Finally, Wall Street Zen upgraded American Resources from a “sell” rating to a “hold” rating in a research report on Sunday, December 28th.

American Resources Price Performance

AREC opened at $3.37 on Friday. The stock’s 50 day moving average price is $2.96 and its 200 day moving average price is $2.48. The stock has a market cap of $341.68 million, a P/E ratio of -8.22 and a beta of 1.13. American Resources has a 12 month low of $0.38 and a 12 month high of $7.11.

American Resources (NASDAQ:AREC) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.01 million. Equities analysts anticipate that American Resources will post -0.38 EPS for the current year.

Insider Activity at American Resources

In other news, major shareholder Properties Ltd. Golden sold 290,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $4.13, for a total value of $1,197,700.00. Following the completion of the sale, the insider owned 10,288,832 shares in the company, valued at $42,492,876.16. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 2,564,818 shares of company stock valued at $10,405,579. 16.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Resources

Several hedge funds and other institutional investors have recently bought and sold shares of AREC. Creative Planning lifted its holdings in American Resources by 65.5% in the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after acquiring an additional 15,000 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of American Resources by 86,418.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock worth $102,000 after purchasing an additional 122,714 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of American Resources in the 2nd quarter worth approximately $33,000. Jane Street Group LLC acquired a new stake in American Resources during the second quarter valued at approximately $139,000. Finally, CWM LLC bought a new stake in American Resources during the third quarter worth approximately $429,000. 9.32% of the stock is currently owned by institutional investors.

About American Resources

American Resources Corporation (NASDAQ:AREC) is a diversified energy and critical minerals company focused on reclaiming coal refuse and mining high?quality steam and metallurgical coal. The firm employs a vertically integrated business model that encompasses raw material extraction, on?site processing and product delivery, supplying coal to power generators, steel manufacturers and industrial users.

Operating primarily in the Central Appalachian region of the United States, American Resources holds mining leases and reclamation permits across multiple sites in Kentucky, West Virginia and Indiana.