Shikiar Asset Management Inc. Has $5.23 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Shikiar Asset Management Inc. grew its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 138,185 shares of the natural resource company's stock after purchasing an additional 21,365 shares during the period. Freeport-McMoRan makes up approximately 1.6% of Shikiar Asset Management Inc.'s holdings, making the stock its 25th biggest position. Shikiar Asset Management Inc.'s holdings in Freeport-McMoRan were worth $5,232,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Coppell Advisory Solutions LLC lifted its holdings in Freeport-McMoRan by 47.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock valued at $32,000 after purchasing an additional 268 shares during the last quarter. Palogic Value Management L.P. raised its position in shares of Freeport-McMoRan by 1.5% in the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock valued at $772,000 after purchasing an additional 292 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Freeport-McMoRan by 0.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock valued at $1,451,000 after purchasing an additional 309 shares during the period. Inspire Advisors LLC lifted its stake in shares of Freeport-McMoRan by 2.6% during the 4th quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock worth $494,000 after buying an additional 325 shares during the last quarter. Finally, Gables Capital Management Inc. boosted its holdings in shares of Freeport-McMoRan by 2.2% during the 4th quarter. Gables Capital Management Inc. now owns 18,301 shares of the natural resource company's stock worth $697,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

NYSE:FCX traded up $0.94 during trading hours on Monday, hitting $41.88. The company's stock had a trading volume of 10,501,332 shares, compared to its average volume of 13,389,937. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $52.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The stock has a fifty day simple moving average of $37.39 and a 200-day simple moving average of $38.20. The company has a market capitalization of $60.18 billion, a P/E ratio of 32.46, a PEG ratio of 0.87 and a beta of 1.64.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The firm's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. On average, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.43%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Analyst Ratings Changes

Several equities analysts have recently commented on FCX shares. Raymond James reaffirmed an "outperform" rating and issued a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Wolfe Research raised shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price for the company in a research report on Wednesday, April 16th. UBS Group decreased their price target on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $50.00 price objective (up previously from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Freeport-McMoRan has an average rating of "Moderate Buy" and a consensus price target of $48.27.

Insider Transactions at Freeport-McMoRan

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 8,584 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total transaction of $343,531.68. Following the completion of the transaction, the chief accounting officer now owns 48,333 shares in the company, valued at approximately $1,934,286.66. This trade represents a 15.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.75% of the company's stock.

Freeport-McMoRan Company Profile

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.