American Resources Co. (NASDAQ:AREC – Free Report) – Roth Capital dropped their FY2024 earnings per share (EPS) estimates for American Resources in a research report issued to clients and investors on Thursday, December 19th. Roth Capital analyst M. Niehuser now expects that the company will earn ($0.38) per share for the year, down from their previous forecast of ($0.36). The consensus estimate for American Resources’ current full-year earnings is ($0.36) per share. Roth Capital also issued estimates for American Resources’ Q4 2024 earnings at ($0.12) EPS.
Other research analysts have also recently issued reports about the stock. Roth Mkm lowered their price target on shares of American Resources from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, September 30th. D. Boral Capital reiterated a “buy” rating and set a $4.00 target price on shares of American Resources in a report on Thursday, November 21st.
American Resources Trading Down 2.8 %
Shares of AREC stock opened at $1.04 on Monday. The company’s fifty day moving average price is $1.10 and its 200-day moving average price is $0.84. The stock has a market cap of $80.52 million, a PE ratio of -2.67 and a beta of 0.21. American Resources has a 12 month low of $0.41 and a 12 month high of $1.78.
Hedge Funds Weigh In On American Resources
A hedge fund recently raised its stake in American Resources stock. Geode Capital Management LLC raised its position in shares of American Resources Co. (NASDAQ:AREC – Free Report) by 2.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 637,722 shares of the company’s stock after purchasing an additional 15,350 shares during the quarter. Geode Capital Management LLC owned 0.82% of American Resources worth $580,000 at the end of the most recent 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.
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