Schear Investment Advisers LLC Has $285,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Schear Investment Advisers LLC grew its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 10.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,059 shares of the natural resource company’s stock after buying an additional 573 shares during the quarter. Schear Investment Advisers LLC’s holdings in Freeport-McMoRan were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Belpointe Asset Management LLC lifted its position in shares of Freeport-McMoRan by 38.6% in the fourth quarter. Belpointe Asset Management LLC now owns 16,891 shares of the natural resource company’s stock worth $719,000 after purchasing an additional 4,703 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Freeport-McMoRan by 1.8% in the fourth quarter. Fisher Asset Management LLC now owns 55,656,836 shares of the natural resource company’s stock worth $2,369,312,000 after purchasing an additional 976,592 shares in the last quarter. Oaktree Capital Management LP lifted its position in shares of Freeport-McMoRan by 7.8% in the fourth quarter. Oaktree Capital Management LP now owns 2,917,913 shares of the natural resource company’s stock worth $124,216,000 after purchasing an additional 211,608 shares in the last quarter. Norden Group LLC lifted its position in shares of Freeport-McMoRan by 1,823.1% in the first quarter. Norden Group LLC now owns 249,885 shares of the natural resource company’s stock worth $11,750,000 after purchasing an additional 236,891 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC lifted its position in shares of Freeport-McMoRan by 6.4% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock worth $14,726,000 after purchasing an additional 20,894 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock traded up $0.87 on Friday, hitting $51.52. The company’s stock had a trading volume of 8,300,639 shares, compared to its average volume of 9,815,288. The company has a market capitalization of $74.01 billion, a PE ratio of 45.59, a PEG ratio of 2.05 and a beta of 1.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.41 and a current ratio of 2.35. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $55.24. The stock’s 50 day moving average is $50.67 and its 200-day moving average is $45.43.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.74 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 26.55%.

Insider Transactions at Freeport-McMoRan

In related news, CAO Stephen T. Higgins sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $52.03, for a total value of $4,162,400.00. Following the completion of the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at approximately $5,430,735.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $52.03, for a total transaction of $4,162,400.00. Following the completion of the transaction, the chief accounting officer now owns 104,377 shares in the company, valued at approximately $5,430,735.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard C. Adkerson sold 54,771 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $50.78, for a total transaction of $2,781,271.38. Following the transaction, the chief executive officer now owns 3,652,478 shares of the company’s stock, valued at approximately $185,472,832.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 445,667 shares of company stock valued at $22,755,070. 0.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

FCX has been the topic of several analyst reports. Morgan Stanley raised shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $49.50 to $62.00 in a research report on Friday, June 21st. Scotiabank upped their price target on shares of Freeport-McMoRan from $53.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. HSBC upped their price target on shares of Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Finally, Raymond James upped their price target on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $52.93.

About Freeport-McMoRan

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.