5 Cheap Coal Stocks to Buy Now

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1. American Resources Corporation (NASDAQ:AREC)

Number of Hedge Fund Holders: 4  

Share Price as of August 17: $2.58       

American Resources Corporation (NASDAQ:AREC) engages in the metallurgical coal business. On August 11, the company announced that it would be starting the planning and development of two carbon mines in Kentucky. These mines will supply the McCoy Elkhorn complex of the firm with additional metallurgical carbon. The mines are capable of producing 45,000 tons of coal a month and have a low cost of development. The firm also recently received  $4.9 million in federal tax credits for its Wyoming County Coal complex in West Virginia.

American Resources Corporation (NASDAQ:AREC) posted earnings for the second quarter of 2022 on August 15, reporting a revenue of more than $16 million, up over 312% compared to the revenue over the same period last year. 

At the end of the first quarter of 2022, 4 hedge funds in the database of Insider Monkey held stakes worth $2.1 million in American Resources Corporation (NASDAQ:AREC), compared to 2 in the previous quarter worth $461,000. 

You can also take a peek at Why These 10 Stocks Are Trending on Monday and 10 ETFs to Buy and Hold for the Next 10 Years.

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