American Resources Corporation (NASDAQ:AREC) Receives $6.00 Average Target Price from Brokerages

American Resources Corporation (NASDAQ:AREC) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $6.00.

Several brokerages have recently issued reports on AREC. 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. Wall Street Zen upgraded American Resources from a “sell” rating to a “hold” rating in a research note on Sunday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a research report on Wednesday, January 21st. Finally, Maxim Group initiated coverage on American Resources in a report on Wednesday, November 26th. They set a “buy” rating and a $7.00 price target for the company.

American Resources Trading Up 3.6%

NASDAQ AREC opened at $3.18 on Friday. The company has a fifty day simple moving average of $3.14 and a 200 day simple moving average of $3.00. The company has a market cap of $322.42 million, a P/E ratio of -7.76 and a beta of 1.17. American Resources has a 1 year low of $0.38 and a 1 year high of $7.11.

Institutional Trading of American Resources

Several hedge funds and other institutional investors have recently bought and sold shares of AREC. CWM LLC bought a new stake in shares of American Resources in the third quarter valued at about $429,000. Nomura Holdings Inc. acquired a new position in American Resources in the 3rd quarter valued at approximately $33,000. XTX Topco Ltd acquired a new position in American Resources in the 2nd quarter valued at approximately $33,000. Virtu Financial LLC acquired a new stake in shares of American Resources during the 4th quarter worth approximately $47,000. Finally, Bank of America Corp DE increased its position in shares of American Resources by 3,721.8% during the third quarter. Bank of America Corp DE now owns 19,797 shares of the company’s stock valued at $53,000 after purchasing an additional 19,279 shares during the period. 9.32% of the stock is currently owned by institutional investors and hedge funds.

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.