American Resources (NASDAQ:AREC) Issues Quarterly Earnings Results

American Resources (NASDAQ:AREC) issued its quarterly earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10), reports. The business had revenue of ($0.10) million during the quarter, compared to the consensus estimate of $1.00 million.

American Resources Price Performance

Shares of AREC stock opened at $1.94 on Wednesday. The stock’s fifty day simple moving average is $2.46 and its 200 day simple moving average is $2.90. The firm has a market cap of $207.44 million, a price-to-earnings ratio of -4.73 and a beta of 1.14. American Resources has a one year low of $0.61 and a one year high of $7.11.

Institutional Trading of American Resources

Several institutional investors have recently bought and sold shares of AREC. Creative Planning boosted its stake in American Resources by 65.5% in the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after buying an additional 15,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 buying an additional 122,714 shares in the last quarter. XTX Topco Ltd acquired a new stake in American Resources in the 2nd quarter valued at $33,000. Jane Street Group LLC acquired a new stake in American Resources in the 2nd quarter valued at $139,000. Finally, Vanguard Group Inc. boosted its stake in American Resources by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,124,973 shares of the company’s stock valued at $8,437,000 after buying an additional 120,065 shares in the last quarter. Institutional investors and hedge funds own 9.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on AREC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a research report on Monday, April 20th. Wall Street Zen downgraded American Resources from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

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.