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American Resources (AREC) Gets a Buy Rating from H.C. Wainwright

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on American Resources (ARECResearch Report) today and set a price target of $4.25. The company’s shares closed last Friday at $1.83.

According to TipRanks.com, Ihle is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -14.7% and a 23.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Tanzanian Royalty Exploration, and Northern Dynasty Minerals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for American Resources with a $4.25 average price target.

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Based on American Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $9.08 million and GAAP net loss of $2.75 million. In comparison, last year the company earned revenue of $10.65K and had a GAAP net loss of $6.39 million.

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American Resources Corp. (Indiana) engages in the extraction, processing, transportation, and distribution of metallurgical coal to the steel industry. It focuses on its operation of coal mining complexes located primarily within Pike, Knott, and Letcher Counties, Kentucky and Wyoming County, West Virginia. The company was founded on October 2, 2013 and in headquartered in Fishers, IN.

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