American Resources (NASDAQ:AREC – Get Free Report) had its target price lowered by stock analysts at Roth Mkm from $5.00 to $4.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price objective indicates a potential upside of 317.80% from the company’s current price.
Separately, EF Hutton Acquisition Co. I upgraded American Resources to a “strong-buy” rating in a report on Monday, June 3rd.
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American Resources Price Performance
American Resources (NASDAQ:AREC – Get Free Report) last announced its earnings results on Monday, August 19th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). American Resources had a negative net margin of 332.74% and a negative return on equity of 978.72%. During the same quarter last year, the business posted ($0.01) earnings per share. Sell-side analysts predict that American Resources will post -0.13 earnings per share for the current fiscal year.
Institutional Investors Weigh In On American Resources
An institutional investor recently raised its position in American Resources stock. Vanguard Group Inc. raised its holdings in American Resources Co. (NASDAQ:AREC – Free Report) by 7.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,988,101 shares of the company’s stock after buying an additional 216,800 shares during the period. Vanguard Group Inc. owned approximately 3.77% of American Resources worth $4,213,000 as of its most recent SEC filing. 9.32% of the stock is currently owned by institutional investors.
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.
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