H.C. Wainwright Thinks American Resources’ Stock is Going to Recover

By Ryan Adsit

In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on American Resources (ARECResearch Report), with a price target of $4.00. The company’s shares closed last Friday at $2.30, close to its 52-week low of $1.26.

According to TipRanks.com, Ihle is a 5-star analyst with an average return of 28.8% and a 48.5% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and Americas Gold and Silver.

American Resources has an analyst consensus of Moderate Buy, with a price target consensus of $4.00.

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The company has a one-year high of $8.02 and a one-year low of $1.26. Currently, American Resources has an average volume of 1.58M.

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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.