Brokerages Set American Resources Corporation (NASDAQ:AREC) PT at $6.00

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

Several equities research analysts recently commented on AREC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. William Blair initiated coverage on shares of American Resources in a report on Monday, October 20th. They set an “outperform” rating on the stock. Maxim Group assumed coverage on shares of American Resources in a research note on Wednesday, November 26th. They issued a “buy” rating and a $7.00 price target for the company. D Boral Capital upgraded shares of American Resources to a “strong-buy” rating in a research report on Monday, September 15th. Finally, Roth Capital restated a “buy” rating and issued a $5.00 target price on shares of American Resources in a report on Monday, October 13th.

American Resources Trading Up 5.5%

AREC stock opened at $2.70 on Tuesday. The stock’s 50 day simple moving average is $3.56 and its 200 day simple moving average is $2.20. American Resources has a 12-month low of $0.38 and a 12-month high of $7.11. The stock has a market capitalization of $273.75 million, a PE ratio of -6.59 and a beta of 1.12.

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

Insider Buying and Selling at American Resources

In other news, major shareholder Properties Ltd. Golden sold 980,000 shares of the firm’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $4.06, for a total value of $3,978,800.00. Following the transaction, the insider directly owned 11,409,960 shares in the company, valued at $46,324,437.60. This trade represents a 7.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 2,564,818 shares of company stock worth $10,405,579. 16.80% of the stock is owned by corporate insiders.

Institutional Trading of American Resources

A number of hedge funds have recently bought and sold shares of the company. Northwest Financial Advisors bought a new position in American Resources in the third quarter valued at about $27,000. Belvedere Trading LLC purchased a new stake in shares of American Resources during the 3rd quarter valued at about $30,000. Creative Planning lifted its stake in shares of American Resources by 65.5% in the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock worth $31,000 after purchasing an additional 15,000 shares during the period. XTX Topco Ltd purchased a new position in shares of American Resources in the second quarter worth approximately $33,000. Finally, Nomura Holdings Inc. purchased a new position in shares of American Resources in the third quarter worth approximately $33,000. Hedge funds and other institutional investors 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.