Properties Ltd. Golden Sells 370,000 Shares of American Resources (NASDAQ:AREC) Stock

American Resources Corporation (NASDAQ:AREC) major shareholder Properties Ltd. Golden sold 370,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $4.04, for a total value of $1,494,800.00. Following the completion of the sale, the insider directly owned 9,898,832 shares of the company’s stock, valued at $39,991,281.28. The trade was a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Properties Ltd. Golden also recently made the following trade(s):

• On Friday, November 7th, Properties Ltd. Golden sold 196,108 shares of American Resources stock. The stock was sold at an average price of $4.04, for a total value of $792,276.32.
• On Friday, November 7th, Properties Ltd. Golden sold 390,000 shares of American Resources stock. The shares were sold at an average price of $4.03, for a total transaction of $1,571,700.00.
• On Monday, November 10th, Properties Ltd. Golden sold 290,000 shares of American Resources stock. The stock was sold at an average price of $4.13, for a total transaction of $1,197,700.00.
• On Monday, November 10th, Properties Ltd. Golden sold 106,845 shares of American Resources stock. The stock was sold at an average price of $4.10, for a total transaction of $438,064.50.
• On Tuesday, November 4th, Properties Ltd. Golden sold 92,973 shares of American Resources stock. The stock was sold at an average price of $4.00, for a total transaction of $371,892.00.
• On Wednesday, November 5th, Properties Ltd. Golden sold 118,892 shares of American Resources stock. The shares were sold at an average price of $4.02, for a total value of $477,945.84.
• On Tuesday, August 19th, Properties Ltd. Golden sold 1,000,000 shares of American Resources stock. The stock was sold at an average price of $1.26, for a total value of $1,260,000.00.
• On Friday, October 17th, Properties Ltd. Golden sold 980,000 shares of American Resources stock. The shares were sold at an average price of $4.06, for a total value of $3,978,800.00.
• On Monday, October 20th, Properties Ltd. Golden sold 20,000 shares of American Resources stock. The stock was sold at an average price of $4.12, for a total value of $82,400.00.

American Resources Trading Down 4.4%

Shares of AREC traded down $0.17 during trading hours on Wednesday, reaching $3.67. 4,247,356 shares of the company traded hands, compared to its average volume of 4,900,716. The stock’s fifty day moving average price is $3.36 and its 200 day moving average price is $1.90. The firm has a market cap of $365.35 million, a price-to-earnings ratio of -7.81 and a beta of 1.15. American Resources Corporation has a 12-month low of $0.38 and a 12-month high of $7.11.

American Resources (NASDAQ:AREC) last posted its quarterly earnings results on Tuesday, August 19th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $16.40 million. On average, research analysts forecast that American Resources Corporation will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AREC. Wall Street Zen upgraded American Resources from a “sell” rating to a “hold” rating in a report on Sunday, September 28th. D. Boral Capital started coverage on American Resources in a research report on Monday, September 15th. They set a “buy” rating and a $6.00 price target on the stock. William Blair began coverage on American Resources in a report on Monday, October 20th. They issued an “outperform” rating for the company. D Boral Capital raised shares of American Resources to a “strong-buy” rating in a research note on Monday, September 15th. Finally, Roth Capital reissued a “buy” rating and set a $5.00 target price on shares of American Resources in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, American Resources has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Institutional Investors Weigh In On American Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in American Resources in the 2nd quarter worth approximately $139,000. CWM LLC acquired a new stake in shares of American Resources during the third quarter worth $429,000. 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. Vanguard Group Inc. grew its holdings 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 valued at $8,437,000 after buying an additional 120,065 shares during the last quarter. Finally, Virtu Financial LLC increased its position in shares of American Resources by 271.3% in the 1st quarter. Virtu Financial LLC now owns 101,913 shares of the company’s stock valued at $48,000 after acquiring an additional 74,464 shares during the period. 9.32% of the stock is currently owned by hedge funds and other institutional investors.

American Resources Company Profile

American Resources Corporation, together with its subsidiaries, extracts, processes, transports, and sells metallurgical coal to the steel and industrial industries. It supplies raw materials; and sells coal used in pulverized coal injections. The company was founded in 2006 and is headquartered in Fishers, Indiana.