American Resources’ (AREC) Buy Rating Reaffirmed at D. Boral Capital

by · The Cerbat Gem

D. Boral Capital reissued their buy rating on shares of American Resources (NASDAQ:AREC – Free Report) in a report released on Thursday morning,Benzinga reports. The firm currently has a $4.00 price target on the stock.

Separately, Roth Mkm decreased their target price on American Resources from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, September 30th.

Get Our Latest Analysis on AREC

American Resources Price Performance

Shares of AREC opened at $1.20 on Thursday. The business’s 50 day simple moving average is $0.96 and its 200-day simple moving average is $0.85. American Resources has a one year low of $0.41 and a one year high of $1.86. The company has a market capitalization of $92.90 million, a P/E ratio of -3.08 and a beta of 0.17.

Hedge Funds Weigh In On American Resources

An institutional investor recently raised its position in American Resources stock. Vanguard Group Inc. boosted its position in shares of American Resources Co. (NASDAQ:AREC – Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,988,101 shares of the company’s stock after purchasing an additional 216,800 shares during the quarter. Vanguard Group Inc. owned 3.77% of American Resources worth $4,213,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 9.32% of the company’s stock.

About American Resources

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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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