Roth Capital Expects Lower Earnings for American Resources

American Resources Co. (NASDAQ:AREC) – Equities research analysts at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for American Resources in a note issued to investors on Thursday, December 19th. Roth Capital analyst M. Niehuser now forecasts that the company will post earnings per share of ($0.38) 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.

A number of other equities analysts also recently commented on AREC. Roth Mkm decreased their target price on American Resources from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, September 30th. D. Boral Capital restated a “buy” rating and set a $4.00 price objective on shares of American Resources in a research report on Thursday, November 21st.

American Resources Stock Performance

NASDAQ AREC opened at $1.07 on Monday. American Resources has a one year low of $0.41 and a one year high of $1.78. The company has a 50-day simple moving average of $1.10 and a 200-day simple moving average of $0.84. The firm has a market capitalization of $82.84 million, a PE ratio of -2.74 and a beta of 0.21.

Institutional Investors Weigh In On American Resources

An institutional investor recently raised its position in American Resources stock. Geode Capital Management LLC raised its holdings in shares of American Resources Co. (NASDAQ:AREC) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 637,722 shares of the company’s stock after acquiring an additional 15,350 shares during the period. Geode Capital Management LLC owned approximately 0.82% of American Resources worth $580,000 as of its most recent SEC filing. 9.32% of the stock is currently owned by institutional investors and hedge funds.

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.