D. Boral Capital Reaffirms “Buy” Rating for American Resources (NASDAQ:AREC)

D. Boral Capital reaffirmed their buy rating on shares of American Resources (NASDAQ:AREC) in a report released on Thursday morning,Benzinga reports. They currently have a $4.00 price objective on the stock.

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

American Resources Stock Performance

Shares of AREC stock opened at $1.16 on Thursday. The firm has a market cap of $89.81 million, a price-to-earnings ratio of -3.08 and a beta of 0.17. American Resources has a 52 week low of $0.41 and a 52 week high of $1.86. The firm’s 50-day simple moving average is $0.96 and its two-hundred day simple moving average is $0.85.

Hedge Funds Weigh In On American Resources

An institutional investor recently raised its position in American Resources stock. Geode Capital Management LLC raised its holdings in American Resources Co. (NASDAQ:AREC) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 637,722 shares of the company’s stock after purchasing an additional 15,350 shares during the period. Geode Capital Management LLC owned 0.82% of American Resources worth $580,000 at the end of the most recent reporting period. Institutional investors 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.