In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on American Resources (AREC), with a price target of $4.50. The company’s shares closed last Monday at $3.67.
According to TipRanks.com, Ihle is a top 25 analyst with an average return of 41.3% and a 63.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and First Majestic Silver.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for American Resources with a $6.00 average price target, which is a 48.5% upside from current levels. In a report issued on February 23, Roth Capital also initiated coverage with a Buy rating on the stock with a $7.50 price target.
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The company has a one-year high of $8.02 and a one-year low of $0.57. Currently, American Resources has an average volume of 6.58M.
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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.
