American Resources (NASDAQ:AREC) Earns Buy Rating from Analysts at Maxim Group

Maxim Group initiated coverage on shares of American Resources (NASDAQ:AREC) in a research note released on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $7.00 target price on the stock.

A number of other equities analysts have also commented on the company. D Boral Capital raised American Resources to a “strong-buy” rating in a research note on Monday, September 15th. D. Boral Capital started coverage on American Resources in a report on Monday, September 15th. They issued a “buy” rating and a $6.00 price target for the company. Wall Street Zen lowered shares of American Resources from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Roth Capital restated a “buy” rating and issued a $5.00 price objective on shares of American Resources in a research report on Monday, October 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, American Resources presently has an average rating of “Moderate Buy” and an average target price of $6.00.

American Resources Trading Up 5.3%

Shares of American Resources stock opened at $2.76 on Wednesday. The stock has a market capitalization of $279.84 million, a price-to-earnings ratio of -6.73 and a beta of 1.15. The firm’s 50-day moving average price is $3.56 and its two-hundred day moving average price is $2.08. American Resources has a 1-year low of $0.38 and a 1-year high of $7.11.

American Resources (NASDAQ:AREC) last posted its earnings results on Friday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. The firm had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.01 million. As a group, equities research analysts predict that American Resources will post -0.38 EPS for the current year.

Insider Activity

In other news, major shareholder Properties Ltd. Golden sold 980,000 shares of American Resources stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4.06, for a total transaction of $3,978,800.00. Following the completion of the sale, the insider owned 11,409,960 shares in the company, valued at $46,324,437.60. The trade was a 7.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 2,564,818 shares of company stock valued at $10,405,579. 16.80% of the stock is currently owned by company insiders.

Institutional Trading of American Resources

A number of institutional investors have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in shares of American Resources in the 3rd quarter valued at $1,524,000. Two Sigma Investments LP acquired a new position in American Resources in the third quarter valued at about $790,000. Jane Street Group LLC bought a new position in American Resources during the second quarter worth about $139,000. CWM LLC acquired a new position in shares of American Resources during the 3rd quarter worth about $429,000. Finally, JPMorgan Chase & Co. increased its stake 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 valued at $102,000 after acquiring an additional 122,714 shares during the last quarter. Institutional investors and hedge funds 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.