Analysts Set Expectations for American Resources Co.’s FY2023 Earnings (NASDAQ:AREC)

American Resources Co. (NASDAQ:AREC – Get Rating) – Investment analysts at HC Wainwright dropped their FY2023 EPS estimates for shares of American Resources in a research note issued to investors on Wednesday, May 17th. HC Wainwright analyst H. Ihle now expects that the company will earn ($0.08) per share for the year, down from their previous estimate of $0.01. The consensus estimate for American Resources’ current full-year earnings is ($0.05) per share.

American Resources Stock Down 5.2 %

American Resources stock opened at $1.45 on Friday. The stock has a 50-day moving average price of $1.34 and a 200 day moving average price of $1.46. The company has a market capitalization of $113.40 million, a price-to-earnings ratio of -72.50 and a beta of 0.29. American Resources has a 52 week low of $1.04 and a 52 week high of $3.56.

American Resources (NASDAQ:AREC – Get Rating) last issued its quarterly earnings results on Thursday, March 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). The company had revenue of $4.68 million during the quarter, compared to the consensus estimate of $13.00 million.

Institutional Trading of American Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in American Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 2,200,927 shares of the company’s stock valued at $5,656,000 after acquiring an additional 18,930 shares during the period. XTX Topco Ltd purchased a new position in shares of American Resources in the 1st quarter valued at about $83,000. Northern Trust Corp boosted its stake in shares of American Resources by 20.1% in the 1st quarter. Northern Trust Corp now owns 92,691 shares of the company’s stock valued at $238,000 after buying an additional 15,507 shares during the period. Renaissance Technologies LLC purchased a new position in shares of American Resources in the 1st quarter valued at about $960,000. Finally, State Street Corp boosted its stake in shares of American Resources by 12.0% in the 1st quarter. State Street Corp now owns 154,434 shares of the company’s stock valued at $397,000 after buying an additional 16,570 shares during the period. 17.79% of the stock is owned by institutional investors and hedge funds.

American Resources Company Profile

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American Resources Corp. engages in the extraction, processing, transportation, and distribution of metallurgical coal to the steel industry. It focuses on the operation of coal mining complexes located primarily within Pike, Knott, and Letcher Counties, Kentucky, and Wyoming County, West Virginia. The company was founded in 2006 and in headquartered in Fishers, IN.