American Resources (NASDAQ:AREC) Upgraded at D Boral Capital

Key Points

• American Resources (NASDAQ:AREC) has been upgraded to a strong-buy rating by D Boral Capital, with a target price of $6.00.
• The company's stock has seen a significant rise of 20.7% recently, trading at $2.45, while institutional investors have increased their holdings, reaching a total of 9.32% ownership.
• Despite the positive rating changes, American Resources reported a quarterly loss with an EPS of ($0.10), missing estimates and generating only $0.01 million in revenue.

American Resources (NASDAQ:AREC - Get Free Report) was upgraded by research analysts at D Boral Capital to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms have also weighed in on AREC. D. Boral Capital assumed coverage on shares of American Resources in a report on Monday. They set a "buy" rating and a $6.00 target price on the stock. Wall Street Zen upgraded shares of American Resources from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $5.00.

American Resources Trading Up 20.7%

Shares of American Resources stock opened at $2.45 on Monday. The stock has a market cap of $207.29 million, a PE ratio of -5.00 and a beta of 1.02. American Resources has a 12-month low of $0.38 and a 12-month high of $2.49. The company has a 50-day moving average of $1.56 and a two-hundred day moving average of $1.02.

American Resources (NASDAQ:AREC - Get Free Report) last released its earnings results on Tuesday, August 19th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $0.01 million for the quarter, compared to analysts' expectations of $16.40 million. On average, sell-side analysts forecast that American Resources will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On American Resources

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in American Resources in the 2nd quarter worth about $139,000. JPMorgan Chase & Co. grew its position in American Resources by 86,418.3% in 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 during the last quarter. Virtu Financial LLC grew 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 worth $48,000 after purchasing an additional 74,464 shares during the last quarter. XTX Topco Ltd bought a new position in American Resources in the 2nd quarter worth about $33,000. Finally, Creative Planning grew its position in American Resources by 65.5% in 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 last quarter. 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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