AREC Well-Funded To Develop Carbon And Rare Earth Concentrates: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
H.C. Wainwright analyst Heiko F. Ihle reiterated a Buy rating on American Resources Corporation (AREC) with a price target of $3.50. AREC recently rejected an unsolicited bid for the assets of its metallurgical carbon division, American Carbon. The analyst believes AREC is well-funded to continue growing its operations and expand production at its McCoy Elkhorn and Wyoming County assets. AREC is also considering a lithium and critical mineral refining operation, which could supply domestic battery manufacturers.
June 29, 2023 | 6:30 pm
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American Resources Corporation (AREC) has been given a Buy rating by H.C. Wainwright analyst Heiko F. Ihle, with a price target of $3.50. The company is well-funded and expected to continue growing its operations, including potential expansion into lithium refining.
The Buy rating and price target from the analyst indicate a positive outlook for AREC. The company's rejection of an unsolicited bid for its assets and plans for growth and expansion suggest a strong position and potential for increased value. The potential lithium refining operation could also open up new opportunities and markets for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100