American Resources Corporation (NASDAQ:AREC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

American Resources Corporation (NASDAQ:AREC) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $6.00.

A number of analysts recently issued reports on AREC shares. Wall Street Zen cut American Resources from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Weiss Ratings cut shares of American Resources from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th.

Hedge Funds Weigh In On American Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AREC. HITE Hedge Asset Management LLC bought a new position in American Resources during the 4th quarter worth about $5,750,000. Millennium Management LLC bought a new stake in shares of American Resources in the third quarter valued at about $1,524,000. Goldman Sachs Group Inc. boosted its position in shares of American Resources by 354.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 560,986 shares of the company’s stock worth $1,391,000 after buying an additional 437,578 shares during the period. Bank of America Corp DE grew its holdings in shares of American Resources by 458.9% during the first quarter. Bank of America Corp DE now owns 410,230 shares of the company’s stock worth $993,000 after buying an additional 336,829 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of American Resources during the third quarter worth about $790,000. 9.32% of the stock is owned by institutional investors and hedge funds.

American Resources Stock Up 10.8%

Shares of American Resources stock opened at $1.74 on Wednesday. American Resources has a 1 year low of $1.00 and a 1 year high of $7.11. The business has a 50-day moving average of $2.08 and a two-hundred day moving average of $2.61. The company has a market capitalization of $186.13 million, a P/E ratio of -4.24 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.19 and a quick ratio of 2.19.

American Resources (NASDAQ:AREC) last released its quarterly earnings results on Tuesday, May 19th. The company reported $0.75 EPS for the quarter. The business had revenue of ($0.10) million for the quarter. As a group, equities analysts predict that American Resources will post -0.34 EPS for the current year.

American Resources Company Profile

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.