American Resources (NASDAQ:AREC) Posts Earnings Results, Beats Expectations By $0.05 EPS

American Resources (NASDAQ:AREC) issued its earnings results on Friday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05, Zacks reports. The firm had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.01 million.

American Resources Price Performance

NASDAQ AREC traded up $0.23 on Thursday, hitting $3.15. 3,374,955 shares of the company were exchanged, compared to its average volume of 4,990,199. The company’s 50 day moving average price is $3.56 and its 200-day moving average price is $2.13. American Resources has a twelve month low of $0.38 and a twelve month high of $7.11. The firm has a market capitalization of $319.89 million, a P/E ratio of -7.70 and a beta of 1.12.

Insider Buying and Selling at American Resources

In related news, major shareholder Properties Ltd. Golden sold 290,000 shares of American Resources stock in a transaction that occurred 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 sale, the insider owned 10,288,832 shares of the company’s stock, valued at approximately $42,492,876.16. This trade represents a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 2,564,818 shares of company stock valued at $10,405,579 in the last three months. Company insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On American Resources

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of American Resources by 4.0% in the third quarter. Vanguard Group Inc. now owns 3,124,973 shares of the company’s stock worth $8,437,000 after purchasing an additional 120,065 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of American Resources during the third quarter worth about $1,524,000. Two Sigma Investments LP purchased a new position in American Resources in the third quarter valued at $790,000. Jane Street Group LLC acquired a new stake in shares of American Resources in the second quarter worth approximately $139,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of American Resources by 86,418.3% in the second 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 during the period. 9.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Roth Capital reiterated a “buy” rating and issued a $5.00 price target on shares of American Resources in a research note on Monday, October 13th. D Boral Capital upgraded shares of American Resources to a “strong-buy” rating in a report on Monday, September 15th. Maxim Group initiated coverage on shares of American Resources in a report on Wednesday, November 26th. They set a “buy” rating and a $7.00 price objective for the company. William Blair began coverage on American Resources in a report on Monday, October 20th. They set an “outperform” rating for the company. Finally, Wall Street Zen upgraded shares of American Resources from a “sell” rating to a “hold” rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

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.