Sheaff Brock Investment Advisors LLC Buys 3,980 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Sheaff Brock Investment Advisors LLC raised its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX – Get Rating) by 53.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 11,437 shares of the natural resource company’s stock after purchasing an additional 3,980 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $569,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. St. Johns Investment Management Company LLC purchased a new position in shares of Freeport-McMoRan in the first quarter valued at about $25,000. FNY Investment Advisers LLC lifted its position in shares of Freeport-McMoRan by 1,250.0% in the first quarter. FNY Investment Advisers LLC now owns 540 shares of the natural resource company’s stock valued at $26,000 after acquiring an additional 500 shares in the last quarter. GHP Investment Advisors Inc. purchased a new position in shares of Freeport-McMoRan in the first quarter valued at about $26,000. Fairfield Bush & CO. purchased a new stake in shares of Freeport-McMoRan in the first quarter worth about $26,000. Finally, Rational Advisors LLC lifted its position in shares of Freeport-McMoRan by 126.2% in the fourth quarter. Rational Advisors LLC now owns 656 shares of the natural resource company’s stock worth $27,000 after buying an additional 366 shares in the last quarter. Institutional investors own 77.37% of the company’s stock.

Freeport-McMoRan Trading Up 0.2 %

FCX opened at $28.76 on Friday. The stock has a market cap of $41.68 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 0.30 and a beta of 2.01. The stock’s 50 day moving average price is $32.33 and its 200-day moving average price is $39.73. Freeport-McMoRan Inc. has a one year low of $24.80 and a one year high of $51.99. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.94 and a current ratio of 2.73.

Freeport-McMoRan (NYSE:FCX – Get Rating) last released its earnings results on Thursday, July 21st. The natural resource company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.31). The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $6.20 billion. Freeport-McMoRan had a net margin of 20.08% and a return on equity of 22.04%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 3.24 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $0.60 annualized dividend and a yield of 2.09%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 9.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. The Goldman Sachs Group decreased their target price on Freeport-McMoRan from $54.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. Deutsche Bank Aktiengesellschaft decreased their target price on Freeport-McMoRan from $37.00 to $35.00 in a research report on Friday, July 22nd. BNP Paribas upgraded Freeport-McMoRan from a “neutral” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Wednesday, July 13th. BMO Capital Markets decreased their price objective on Freeport-McMoRan from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, April 22nd. Finally, StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Hold” and an average target price of $42.00.

Insider Buying and Selling

In other news, Director Sara Grootwassink Lewis acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average price of $28.79 per share, with a total value of $86,370.00. Following the completion of the purchase, the director now directly owns 13,800 shares in the company, valued at $397,302. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Dustan E. Mccoy sold 8,200 shares of the stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $39.24, for a total value of $321,768.00. Following the transaction, the director now owns 134,400 shares of the company’s stock, valued at $5,273,856. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sara Grootwassink Lewis bought 3,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were bought at an average price of $28.79 per share, with a total value of $86,370.00. Following the acquisition, the director now owns 13,800 shares of the company’s stock, valued at $397,302. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

Freeport-McMoRan Company Profile

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