American Resources price target raised to $5 from $4 at Roth Capital

Roth Capital raised the firm’s price target on American Resources (AREC) to $5 from $4 and keeps a Buy rating on the shares. China added five more rare earth elements to the seven it previously restricted for export, but prior to this announcement, ReElement Technologies demonstrated the capability of commercially purifying five of the initial seven restricted rare earth elements to ultra-pure rare earth oxides at its facility in Noblesville, Indiana, the analyst tells investors in a research note. American Resources’ 19.9%-owned spin- out, ReElement Technologies, may be the nation’s “ace in the hole” in a looming trade war and in breaking China’s monopoly on refining rare earth elements, the firm added.