Roth Capital Has Negative Forecast for AREC FY2024 Earnings

American Resources Co. (NASDAQ:AREC - Free Report) - Equities researchers at Roth Capital cut 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 of ($0.38) per share for the year, down from their previous estimate 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.

Several other brokerages have also recently commented on AREC. D. Boral Capital reissued a "buy" rating and set a $4.00 price target on shares of American Resources in a research report on Thursday, November 21st. Roth Mkm dropped their target price on American Resources from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Monday, September 30th.

American Resources Stock Down 2.8 %

Shares of AREC stock traded down $0.03 during trading on Monday, reaching $1.04. The company's stock had a trading volume of 355,495 shares, compared to its average volume of 308,690. American Resources has a one year low of $0.41 and a one year high of $1.78. The business has a fifty day moving average price of $1.10 and a 200-day moving average price of $0.84. The company has a market cap of $80.52 million, a price-to-earnings ratio of -2.67 and a beta of 0.21.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in American Resources stock. Geode Capital Management LLC boosted its position in American Resources Co. (NASDAQ:AREC - Free Report) by 2.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 637,722 shares of the company's stock after purchasing an additional 15,350 shares during the period. Geode Capital Management LLC owned about 0.82% of American Resources worth $580,000 as of its most recent filing with the SEC. 9.32% of the stock is currently owned by hedge funds and other institutional investors.

About American Resources

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.