American Resources (NASDAQ:AREC) Reaches New 12-Month High - What's Next?

Key Points

• American Resources Corporation's shares reached a new 52-week high of $6.93, up from a previous close of $4.98, with a trading volume of over 17.9 million shares.
• Research analysts have given American Resources a consensus rating of "Moderate Buy," with new price targets ranging from $5.00 to $6.00, following upgrades from several firms.
• The company's recent quarterly earnings showed a loss of ($0.10) per share against an expected loss of ($0.05), with revenue significantly below analyst estimates at just $0.01 million.

Shares of American Resources Corporation (NASDAQ:AREC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.36 and last traded at $6.93, with a volume of 17961706 shares trading hands. The stock had previously closed at $4.98.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen raised 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 target price on the stock. Roth Capital reaffirmed a "buy" rating and set a $5.00 target price on shares of American Resources in a research note on Monday. D Boral Capital raised shares of American Resources to a "strong-buy" rating in a report on Monday, September 15th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of American Resources in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.50.

American Resources Stock Performance

The stock has a market cap of $554.62 million, a price-to-earnings ratio of -13.24 and a beta of 1.14. The firm's 50-day moving average price is $2.36 and its two-hundred day moving average price is $1.40.

American Resources (NASDAQ:AREC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $16.40 million. As a group, sell-side analysts expect that American Resources Corporation will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of American Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in shares of American Resources in the second quarter valued at $139,000. XTX Topco Ltd purchased a new position in American Resources in the second quarter valued at $33,000. JPMorgan Chase & Co. grew its stake in American Resources by 86,418.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company's stock worth $102,000 after purchasing an additional 122,714 shares in the last quarter. Creative Planning increased its holdings in American Resources by 65.5% during the 2nd quarter. Creative Planning now owns 37,892 shares of the company's stock worth $31,000 after purchasing an additional 15,000 shares during the period. Finally, Virtu Financial LLC raised its position in 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 purchasing an additional 74,464 shares in the last quarter. Hedge funds and other institutional investors own 9.32% of the company's stock.

About American Resources

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.

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