American Resources Corporation (NASDAQ:AREC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of American Resources Corporation (NASDAQ:AREC) have been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $6.00.

Several research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a report on Wednesday, January 21st. D. Boral Capital reaffirmed a “buy” rating and issued a $6.00 price target on shares of American Resources in a research report on Monday, December 1st. Maxim Group began coverage on American Resources in a research note on Wednesday, November 26th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Wall Street Zen raised American Resources from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd.

American Resources Trading Down 1.3%

Shares of American Resources stock opened at $3.10 on Thursday. The firm has a fifty day simple moving average of $3.31 and a 200-day simple moving average of $3.16. The stock has a market capitalization of $331.48 million, a price-to-earnings ratio of -7.56 and a beta of 1.02. American Resources has a 1-year low of $0.38 and a 1-year high of $7.11.

Institutional Trading of American Resources

A number of hedge funds have recently bought and sold shares of AREC. Creative Planning lifted its stake in shares of American Resources by 65.5% in the second quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after buying an additional 15,000 shares during the period. JPMorgan Chase & Co. raised its holdings in American Resources by 86,418.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock valued at $102,000 after acquiring an additional 122,714 shares in the last quarter. XTX Topco Ltd acquired a new position in American Resources in the 2nd quarter valued at approximately $33,000. Jane Street Group LLC bought a new stake in shares of American Resources in the 2nd quarter worth approximately $139,000. Finally, CWM LLC bought a new stake in shares of American Resources in the 3rd quarter worth approximately $429,000. 9.32% of the stock is owned by institutional investors.

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.