Shares of American Resources Corporation (NASDAQ:AREC – Get Free Report) have been given an average rating of “Moderate Buy” by the five brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $6.00.
Several brokerages recently commented on AREC. Weiss Ratings cut American Resources from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday. Wall Street Zen upgraded American Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th.
Get Our Latest Stock Report on AREC
American Resources Stock Performance
American Resources Announces Dividend
The business also recently disclosed a dividend, which was paid on Tuesday, August 25th. Stockholders of record on Saturday, August 15th were paid a dividend of $0.0431 per share. The ex-dividend date was Friday, August 14th.
Institutional Investors Weigh In On American Resources
Several large investors have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC bought a new stake in American Resources during the fourth quarter worth $5,750,000. Bank of America Corp DE lifted its stake in American Resources by 458.9% in the first quarter. Bank of America Corp DE now owns 410,230 shares of the company’s stock valued at $993,000 after acquiring an additional 336,829 shares during the last quarter. SG Americas Securities LLC grew its position in shares of American Resources by 5.7% in the 1st quarter. SG Americas Securities LLC now owns 268,703 shares of the company’s stock valued at $650,000 after acquiring an additional 14,372 shares during the period. Kingsbury Capital Investment Advisors LLC grew its position in shares of American Resources by 8.8% in the 2nd quarter. Kingsbury Capital Investment Advisors LLC now owns 118,193 shares of the company’s stock valued at $254,000 after acquiring an additional 9,562 shares during the period. Finally, Tidal Investments LLC grew its position in shares of American Resources by 55,112.2% in the 2nd quarter. Tidal Investments LLC now owns 49,691 shares of the company’s stock valued at $107,000 after acquiring an additional 49,601 shares during the period. Institutional investors and hedge funds own 9.32% of the company’s stock.
American Resources Company Profile
American Resources Corporation (NASDAQ: AREC) is a diversified resource company focused on the production and processing of critical materials. Through its subsidiaries, the company has historically operated metallurgical and thermal coal assets in the Central Appalachian region, supplying carbon products used in steelmaking and energy generation.
American Resources has expanded beyond traditional coal operations through ReElement Technologies, which develops technologies for refining and recovering rare earth elements and other critical minerals.
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