American Resources Corporation (NASDAQ:AREC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of American Resources Corporation (NASDAQ:AREC) have received an average rating of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.50.

A number of brokerages have issued reports on AREC. Roth Capital reissued a “buy” rating and set a $5.00 target price on shares of American Resources in a research note on Monday, October 13th. William Blair began coverage on shares of American Resources in a research note on Monday. They set an “outperform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of American Resources in a research note on Friday. D. Boral Capital began coverage on shares of American Resources in a research note on Monday, September 15th. They set a “buy” rating and a $6.00 target price for the company. Finally, Wall Street Zen raised shares of American Resources from a “sell” rating to a “hold” rating in a research note on Sunday, September 28th.

American Resources Stock Performance

American Resources stock opened at $3.88 on Monday. The company has a 50 day moving average price of $2.89 and a 200 day moving average price of $1.64. American Resources has a 52 week low of $0.38 and a 52 week high of $7.11. The firm has a market capitalization of $328.29 million, a price-to-earnings ratio of -7.92 and a beta of 1.14.

American Resources (NASDAQ:AREC) last posted its quarterly earnings data on Tuesday, August 19th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $16.40 million. Equities analysts forecast that American Resources will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at American Resources

In other news, major shareholder Properties Ltd. Golden sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $1.12, for a total transaction of $1,120,000.00. Following the transaction, the insider owned 13,389,960 shares in the company, valued at approximately $14,996,755.20. This trade represents a 6.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 3,000,000 shares of company stock worth $6,441,200. 16.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning raised its holdings in shares of American Resources by 65.5% during the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after purchasing an additional 15,000 shares in the last quarter. XTX Topco Ltd bought a new position in shares of American Resources during the 2nd quarter valued at $33,000. Virtu Financial LLC raised its holdings in shares of American Resources by 271.3% during the 1st quarter. Virtu Financial LLC now owns 101,913 shares of the company’s stock valued at $48,000 after purchasing an additional 74,464 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of American Resources by 86,418.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock valued at $102,000 after purchasing an additional 122,714 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of American Resources during the 2nd quarter valued at $139,000. Institutional investors own 9.32% of the company’s stock.

American Resources Company Profile

American Resources Corporation, together with its subsidiaries, extracts, processes, transports, and sells metallurgical coal to the steel and industrial industries. It supplies raw materials; and sells coal used in pulverized coal injections. The company was founded in 2006 and is headquartered in Fishers, Indiana.