Brokerages Set American Resources Corporation (NASDAQ:AREC) Price Target at $6.00

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

Several brokerages have issued reports on AREC. Wall Street Zen raised American Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded shares of American Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th.

Institutional Investors Weigh In On American Resources

Several hedge funds and other institutional investors have recently modified their holdings of AREC. Creative Planning lifted its holdings in shares of American Resources by 65.5% in the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock worth $31,000 after purchasing an additional 15,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of American Resources by 86,418.3% during the second 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 during the last quarter. XTX Topco Ltd acquired a new position in shares of American Resources during the second quarter valued at about $33,000. Jane Street Group LLC bought a new stake in shares of American Resources during the second quarter worth about $139,000. Finally, Vanguard Group Inc. increased its position in shares of American Resources by 4.0% during the third quarter. Vanguard Group Inc. now owns 3,124,973 shares of the company’s stock worth $8,437,000 after acquiring an additional 120,065 shares in the last quarter. Institutional investors own 9.32% of the company’s stock.

American Resources Price Performance

Shares of NASDAQ AREC opened at $2.68 on Friday. The company has a market capitalization of $286.68 million, a PE ratio of -6.54 and a beta of 1.16. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.14. American Resources has a twelve month low of $1.41 and a twelve month high of $7.11. The firm has a fifty day simple moving average of $2.11 and a 200 day simple moving average of $2.42.

American Resources (NASDAQ:AREC) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $0.75 earnings per share for the quarter. The business had revenue of ($0.10) million for the quarter. On average, sell-side analysts forecast that American Resources will post -0.34 EPS for the current year.

American Resources Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, August 25th. Investors of record on Saturday, August 15th will be paid a dividend of $0.0431 per share. The ex-dividend date of this dividend is Friday, August 14th.

American Resources Company Profile

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.