Equities Analysts Issue Forecasts for AREC FY2024 Earnings

American Resources Co. (NASDAQ:AREC) – Analysts at Roth Capital dropped their FY2024 earnings per share estimates for shares of American Resources in a research note issued to investors on Thursday, December 19th. Roth Capital analyst M. Niehuser now expects that the company will post earnings per share of ($0.38) for the year, down from their prior 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 equities analysts have also recently issued reports about the stock. 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. D. Boral Capital reiterated a “buy” rating and set a $4.00 price target on shares of American Resources in a report on Thursday, November 21st.

American Resources Price Performance

AREC stock opened at $1.07 on Monday. The firm has a market capitalization of $82.84 million, a P/E ratio of -2.74 and a beta of 0.21. American Resources has a 52-week low of $0.41 and a 52-week high of $1.78. The company’s 50 day simple moving average is $1.10 and its 200-day simple moving average is $0.84.

Institutional Investors Weigh In On American Resources

An institutional investor recently raised its position in American Resources stock. Geode Capital Management LLC lifted its stake in American Resources Co. (NASDAQ:AREC) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 637,722 shares of the company’s stock after acquiring an additional 15,350 shares during the quarter. Geode Capital Management LLC owned approximately 0.82% of American Resources worth $580,000 as of its most recent filing with the Securities and Exchange Commission. 9.32% of the stock is owned by hedge funds and other 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.