In a report released today, Tate Sullivan from Maxim Group maintained a Buy rating on American Resources (AREC), with a price target of $1.50. The company’s shares closed last Tuesday at $1.13.
According to TipRanks.com, Sullivan is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -13.1% and a 33.6% success rate. Sullivan covers the Services sector, focusing on stocks such as Natural Gas Services Group, Recon Technology, and ABM Industries.
Currently, the analyst consensus on American Resources is a Moderate Buy with an average price target of $1.50.
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Based on American Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.85 million and GAAP net loss of $7.34 million. In comparison, last year the company earned revenue of $9.04 million and had a GAAP net loss of $3.56 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.