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

Shares of American Resources Corporation (NASDAQ:AREC) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.00.

AREC has been the subject of several research analyst reports. Roth Capital reaffirmed a “buy” rating and issued a $5.00 price objective on shares of American Resources in a research report on Monday, October 13th. Wall Street Zen upgraded shares of American Resources from a “sell” rating to a “hold” rating in a research note on Sunday, November 30th. D Boral Capital upgraded shares of American Resources to a “strong-buy” rating in a research note on Monday, September 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. Finally, Maxim Group started coverage on American Resources in a research report on Wednesday, November 26th. They set a “buy” rating and a $7.00 price target for the company.

American Resources Price Performance

Shares of AREC stock opened at $2.81 on Tuesday. The stock’s fifty day moving average price is $3.57 and its 200 day moving average price is $2.18. American Resources has a 1-year low of $0.38 and a 1-year high of $7.11. The company has a market cap of $284.91 million, a price-to-earnings ratio of -6.85 and a beta of 1.12.

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

Insider Activity at American Resources

In related news, major shareholder Properties Ltd. Golden sold 290,000 shares of the company’s 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 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 2,564,818 shares of company stock worth $10,405,579 over the last three months. Insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On American Resources

A number of institutional investors have recently bought and sold shares of the business. Worth Venture Partners LLC boosted its holdings in shares of American Resources by 45.0% in the 3rd quarter. Worth Venture Partners LLC now owns 36,250 shares of the company’s stock valued at $98,000 after acquiring an additional 11,250 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of American Resources during the third quarter worth $33,000. Millennium Management LLC purchased a new stake in American Resources in the third quarter valued at $1,524,000. Bank of America Corp DE grew its position in American Resources by 3,721.8% during the 3rd quarter. Bank of America Corp DE now owns 19,797 shares of the company’s stock worth $53,000 after purchasing an additional 19,279 shares during the period. Finally, Two Sigma Investments LP purchased a new position in shares of American Resources during the 3rd quarter valued at about $790,000. 9.32% of the stock is owned by hedge funds and other institutional investors.

About American Resources

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.