American Resources (NASDAQ:AREC) Upgraded by D Boral Capital to Strong-Buy Rating

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 equities researchers at D Boral Capital to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on AREC. D. Boral Capital initiated coverage on American Resources in a research report on Monday, September 15th. They set a "buy" rating and a $6.00 price target on the stock. Wall Street Zen upgraded American Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $5.00.

American Resources Price Performance

Shares of AREC traded up $0.38 during mid-day trading on Monday, reaching $2.87. The company had a trading volume of 4,908,896 shares, compared to its average volume of 4,043,463. American Resources has a twelve month low of $0.38 and a twelve month high of $2.92. The company's 50-day moving average is $1.69 and its 200-day moving average is $1.08. The company has a market capitalization of $242.83 million, a P/E ratio of -5.86 and a beta of 1.02.

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

Institutional Trading of American Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning increased its position in shares of American Resources by 65.5% in the second quarter. Creative Planning now owns 37,892 shares of the company's stock valued at $31,000 after acquiring an additional 15,000 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of American Resources by 84.5% in the fourth quarter. Jane Street Group LLC now owns 43,809 shares of the company's stock valued at $44,000 after buying an additional 20,070 shares during the period. XTX Topco Ltd bought a new stake in shares of American Resources in the second quarter valued at approximately $33,000. Virtu Financial LLC boosted its stake in shares of American Resources by 271.3% in the first quarter. Virtu Financial LLC now owns 101,913 shares of the company's stock valued at $48,000 after buying an additional 74,464 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in American Resources by 86,418.3% during the second 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. 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.