D. Boral Capital Reiterates Buy Rating for American Resources (NASDAQ:AREC)

American Resources (NASDAQ:AREC)‘s stock had its “buy” rating restated by stock analysts at D. Boral Capital in a report issued on Tuesday,Benzinga reports. They currently have a $4.00 target price on the stock. D. Boral Capital’s target price points to a potential upside of 409.55% from the company’s previous close.

Separately, Roth Mkm dropped their price objective on shares of American Resources from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, September 30th.

American Resources Trading Up 14.3 %

Shares of AREC opened at $0.79 on Tuesday. The company’s 50 day simple moving average is $1.09 and its 200-day simple moving average is $0.84. The firm has a market cap of $60.78 million, a PE ratio of -2.01 and a beta of 0.27. American Resources has a 12-month low of $0.41 and a 12-month high of $1.78.

Institutional Inflows and Outflows

An institutional investor recently raised its position in American Resources stock. Geode Capital Management LLC increased its stake in shares of American Resources Co. (NASDAQ:AREC) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing. 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.