Roth Capital Has Pessimistic Outlook of AREC FY2024 Earnings

American Resources Co. (NASDAQ:AREC) – Equities researchers at Roth Capital cut their FY2024 earnings per share estimates for shares of American Resources in a report issued on Thursday, December 19th. Roth Capital analyst M. Niehuser now expects that the company will earn ($0.38) per share for the year, down from their prior 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.

AREC has been the subject of several other research reports. D. Boral Capital reaffirmed a “buy” rating and set a $4.00 price objective on shares of American Resources in a research note on Thursday, November 21st. Roth Mkm reduced their target price on 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 Down 0.5 %

Shares of AREC opened at $1.04 on Monday. American Resources has a twelve month low of $0.41 and a twelve month high of $1.78. The stock has a market cap of $80.13 million, a PE ratio of -2.65 and a beta of 0.21. The business’s 50-day moving average price is $1.10 and its 200-day moving average price is $0.84.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in American Resources stock. Geode Capital Management LLC boosted its holdings in American Resources Co. (NASDAQ:AREC) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 0.82% of American Resources worth $580,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.32% of the company’s stock.

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.