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

Shares of American Resources Corporation (NASDAQ:AREC) have earned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $6.00.

AREC has been the subject of several research analyst reports. Wall Street Zen upgraded American Resources from a “sell” rating to a “hold” rating in a research note on Sunday. D. Boral Capital reiterated a “buy” rating and set a $6.00 target price on shares of American Resources in a report on Monday, December 1st. Maxim Group began coverage on shares of American Resources in a research report on Wednesday, November 26th. They set a “buy” rating and a $7.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of American Resources in a report on Wednesday, January 21st.

American Resources Stock Down 2.3%

AREC stock opened at $3.02 on Friday. The company has a market cap of $306.20 million, a price-to-earnings ratio of -7.37 and a beta of 1.17. The business has a fifty day simple moving average of $3.11 and a 200-day simple moving average of $2.97. American Resources has a 52 week low of $0.38 and a 52 week high of $7.11.

Hedge Funds Weigh In On American Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC acquired a new stake in American Resources during the 3rd quarter valued at approximately $429,000. MSH Capital Advisors LLC acquired a new position in shares of American Resources in the 4th quarter valued at approximately $25,000. Novare Capital Management LLC purchased a new position in shares of American Resources during the 4th quarter valued at approximately $124,000. Pilgrim Partners Asia Pte Ltd bought a new position in American Resources during the 4th quarter valued at $66,000. Finally, Certuity LLC acquired a new position in American Resources during the 4th quarter worth $39,000. Institutional investors and hedge funds own 9.32% of the company’s stock.

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.