Geode Capital Management LLC Boosts Holdings in American Resources Co. (NASDAQ:AREC)

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

Wall Street Analysts Forecast Growth

AREC has been the topic of several recent research reports. D. Boral Capital reaffirmed a “buy” rating and issued a $4.00 price target on shares of American Resources in a report on Tuesday, January 7th. Roth Mkm decreased their price objective on shares of American Resources from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, September 30th.

American Resources Stock Performance

Shares of American Resources stock opened at $0.67 on Friday. The firm has a 50-day simple moving average of $1.06 and a two-hundred day simple moving average of $0.84. The company has a market cap of $51.72 million, a P/E ratio of -1.71 and a beta of 0.27. American Resources Co. has a fifty-two week low of $0.41 and a fifty-two week high of $1.78.

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.