American Resources (NASDAQ:AREC) Posts Quarterly Earnings Results, Hits Estimates

American Resources (NASDAQ:AREC) released its earnings results on Tuesday. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10), reports. The firm had revenue of ($0.10) million during the quarter, compared to the consensus estimate of $1.00 million.

American Resources Price Performance

Shares of American Resources stock opened at $1.94 on Wednesday. The business has a fifty day simple moving average of $2.46 and a two-hundred day simple moving average of $2.90. American Resources has a 1 year low of $0.61 and a 1 year high of $7.11. The company has a market capitalization of $207.44 million, a price-to-earnings ratio of -4.73 and a beta of 1.14.

Analyst Ratings Changes

Several equities research analysts have issued reports on AREC shares. Wall Street Zen downgraded American Resources from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating and one has issued 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 Investors Weigh In On American Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Jump Financial LLC acquired a new stake in shares of American Resources during the fourth quarter worth $30,000. Nomura Holdings Inc. acquired a new stake in shares of American Resources during the third quarter worth $33,000. State of Wyoming acquired a new stake in shares of American Resources during the fourth quarter worth $32,000. Virtu Financial LLC acquired a new stake in shares of American Resources during the fourth quarter worth $47,000. Finally, Bank of America Corp DE lifted its holdings in shares of American Resources by 3,721.8% during the third quarter. Bank of America Corp DE now owns 19,797 shares of the company’s stock worth $53,000 after buying an additional 19,279 shares in the last quarter. Institutional investors and hedge funds own 9.32% of the company’s stock.

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.