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

Shares of American Resources Corporation (NASDAQ:AREC) have earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.00.

Several analysts have weighed in on the company. D. Boral Capital reaffirmed a “buy” rating and set a $6.00 price objective on shares of American Resources in a research report on Monday, December 1st. Weiss Ratings restated a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, January 21st. Wall Street Zen upgraded American Resources from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, 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 target on the stock.

Institutional Trading of American Resources

A number of hedge funds and other institutional investors have recently modified their holdings of AREC. MSH Capital Advisors LLC bought a new position in shares of American Resources in the 4th quarter worth about $25,000. Northwest Financial Advisors bought a new stake in American Resources during the third quarter worth about $27,000. Belvedere Trading LLC purchased a new stake in American Resources in the third quarter worth about $30,000. Jump Financial LLC purchased a new stake in American Resources in the fourth quarter worth about $30,000. Finally, Creative Planning increased its stake in shares of American Resources by 65.5% during the second quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after purchasing an additional 15,000 shares in the last quarter. 9.32% of the stock is owned by hedge funds and other institutional investors.

American Resources Price Performance

Shares of NASDAQ AREC opened at $2.59 on Thursday. American Resources has a 1 year low of $0.38 and a 1 year high of $7.11. The stock has a market capitalization of $276.41 million, a P/E ratio of -6.30 and a beta of 1.02. The company’s 50-day moving average is $3.28 and its 200 day moving average is $3.17.

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.