American Resources (NASDAQ:AREC) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

American Resources (NASDAQ:AREC) announced its quarterly earnings results on Friday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03, Zacks reports.

American Resources Stock Down 8.5%

NASDAQ:AREC traded down $0.28 during midday trading on Friday, reaching $3.02. The stock had a trading volume of 6,374,554 shares, compared to its average volume of 4,911,416. The stock has a market cap of $300.64 million, a P/E ratio of -6.43 and a beta of 1.15. The firm has a fifty day simple moving average of $3.45 and a two-hundred day simple moving average of $1.94. American Resources has a 12-month low of $0.38 and a 12-month high of $7.11.

Wall Street Analyst Weigh In

AREC has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, October 8th. D Boral Capital raised American Resources to a “strong-buy” rating in a research report on Monday, September 15th. William Blair initiated coverage on American Resources in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Wall Street Zen upgraded American Resources from a “sell” rating to a “hold” rating in a research note on Sunday, September 28th. Finally, D. Boral Capital began coverage on American Resources in a report on Monday, September 15th. They issued a “buy” rating and a $6.00 price objective for the company. One equities research 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 company. According to data from MarketBeat.com, American Resources presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Insider Activity at American Resources

In other news, major shareholder Properties Ltd. Golden sold 290,000 shares of American Resources stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $4.13, for a total value of $1,197,700.00. Following the sale, the insider owned 10,288,832 shares of the company’s stock, valued at $42,492,876.16. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 3,564,818 shares of company stock valued at $11,665,579. 16.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Resources

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in American Resources during the 3rd quarter worth approximately $71,000. Creative Planning grew its holdings in American Resources by 65.5% during the second quarter. Creative Planning now owns 37,892 shares of the company’s stock worth $31,000 after acquiring an additional 15,000 shares during the period. XTX Topco Ltd purchased a new position in American Resources in the second quarter worth $33,000. JPMorgan Chase & Co. lifted its holdings in American Resources by 86,418.3% in the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock valued at $102,000 after acquiring an additional 122,714 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of American Resources during the 2nd quarter worth $139,000. Institutional investors and hedge funds own 9.32% of the company’s stock.

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.