American Resources (AREC) Expected to Announce Quarterly Earnings on Friday

American Resources (NASDAQ:AREC) is expected to be announcing its results after the market closes on Friday, March 27th. Analysts expect the company to announce earnings of ($0.0912) per share and revenue of $0.5050 million for the quarter.

American Resources Stock Down 4.4%

NASDAQ:AREC opened at $2.58 on Wednesday. American Resources has a 52-week low of $0.38 and a 52-week high of $7.11. The stock has a fifty day simple moving average of $3.25 and a 200-day simple moving average of $3.19. The company has a market capitalization of $275.88 million, a PE ratio of -6.29 and a beta of 1.02.

Analysts Set New Price Targets

A number of brokerages have issued reports on AREC. D. Boral Capital restated a “buy” rating and set a $6.00 target price on shares of American Resources in a research report on Monday, December 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, January 21st. Maxim Group began coverage on American Resources in a research report on Wednesday, November 26th. They set a “buy” rating and a $7.00 price objective for the company. Finally, Wall Street Zen raised American Resources from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new stake in shares of American Resources during the fourth quarter worth about $30,000. Nomura Holdings Inc. purchased a new position in shares of American Resources during the third quarter valued at approximately $33,000. State of Wyoming acquired a new stake in American Resources during the fourth quarter worth approximately $32,000. Virtu Financial LLC acquired a new stake in American Resources during the fourth quarter worth approximately $47,000. Finally, Bank of America Corp DE grew its stake in American Resources by 3,721.8% in the 3rd quarter. Bank of America Corp DE now owns 19,797 shares of the company’s stock worth $53,000 after acquiring an additional 19,279 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 (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.