American Resources (NASDAQ:AREC) Announces Earnings Results, Hits Expectations

American Resources (NASDAQ:AREC) posted its earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10), reports. The business had revenue of ($0.10) million for the quarter, compared to the consensus estimate of $1.00 million.

American Resources Trading Down 6.7%

NASDAQ:AREC opened at $1.94 on Wednesday. American Resources has a 1-year low of $0.61 and a 1-year high of $7.11. The firm has a fifty day simple moving average of $2.46 and a 200 day simple moving average of $2.90. The stock has a market capitalization of $207.44 million, a PE ratio of -4.73 and a beta of 1.14.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AREC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a research note on Monday, April 20th. Wall Street Zen cut shares of American Resources from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, American Resources presently has an average rating of “Moderate Buy” and an average price target of $6.00.

Hedge Funds Weigh In On American Resources

Several hedge funds and other institutional investors have recently made changes to their positions in AREC. Jump Financial LLC bought a new position in shares of American Resources in the fourth quarter valued at $30,000. Creative Planning grew its stake 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 buying an additional 15,000 shares in the last quarter. State of Wyoming bought a new position in shares of American Resources in the fourth quarter valued at $32,000. XTX Topco Ltd bought a new position in shares of American Resources in the second quarter valued at $33,000. Finally, Nomura Holdings Inc. bought a new position in shares of American Resources in the third quarter valued at $33,000. 9.32% of the stock is owned by institutional investors.

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.