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

Shares of American Resources Corporation (NASDAQ:AREC) have been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the company, MarketBeat Ratings reports. One 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 a report on the stock in the last year is $6.00.

Several equities research analysts have issued reports on AREC shares. Wall Street Zen raised shares of American Resources from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. D. Boral Capital restated a “buy” rating and set a $6.00 price target on shares of American Resources in a research report on Monday, December 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, January 21st. Finally, Maxim Group initiated coverage on shares of American Resources in a research note on Wednesday, November 26th. They issued a “buy” rating and a $7.00 target price on the stock.

American Resources Price Performance

NASDAQ AREC opened at $3.08 on Friday. American Resources has a 1-year low of $0.38 and a 1-year high of $7.11. The company has a market cap of $312.28 million, a PE ratio of -7.51 and a beta of 1.17. The stock’s 50 day simple moving average is $3.18 and its 200-day simple moving average is $3.01.

Institutional Trading of American Resources

Several large investors have recently added to or reduced their stakes in AREC. CWM LLC purchased a new stake in shares of American Resources in the third quarter valued at about $429,000. MSH Capital Advisors LLC acquired a new position in American Resources in the 4th quarter valued at about $25,000. Novare Capital Management LLC purchased a new stake in shares of American Resources in the 4th quarter valued at approximately $124,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of American Resources during the 4th quarter worth approximately $66,000. Finally, Certuity LLC purchased a new stake in shares of American Resources during the 4th quarter valued at approximately $39,000. 9.32% of the stock is currently owned by hedge funds and other institutional investors.

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.