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

Shares of American Resources Corporation (NASDAQ:AREC) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.00.

A number of equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of American Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. Wall Street Zen cut shares of American Resources from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th.

Institutional Investors Weigh In On American Resources

Several hedge funds and other institutional investors have recently made changes to their positions in AREC. HITE Hedge Asset Management LLC acquired a new position in shares of American Resources during the fourth quarter valued at $5,750,000. Millennium Management LLC bought a new position in American Resources in the third quarter valued at about $1,524,000. Goldman Sachs Group Inc. increased its position in American Resources by 354.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 560,986 shares of the company’s stock worth $1,391,000 after purchasing an additional 437,578 shares during the period. Bank of America Corp DE increased its position in American Resources by 458.9% in the first quarter. Bank of America Corp DE now owns 410,230 shares of the company’s stock worth $993,000 after purchasing an additional 336,829 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in American Resources in the third quarter worth about $790,000. 9.32% of the stock is owned by institutional investors and hedge funds.

American Resources Stock Performance

Shares of NASDAQ:AREC opened at $1.96 on Friday. The business has a fifty day moving average of $2.20 and a 200-day moving average of $2.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.19 and a current ratio of 2.19. American Resources has a twelve month low of $0.83 and a twelve month high of $7.11. The firm has a market cap of $209.66 million, a PE ratio of -4.78 and a beta of 1.11.

American Resources (NASDAQ:AREC) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $0.75 earnings per share (EPS) for the quarter. The company had revenue of ($0.10) million for the quarter. On average, equities research analysts predict that American Resources will post -0.34 EPS for the current fiscal year.

About American Resources

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.