1,051 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by Murphy & Mullick Capital Management Corp

Murphy & Mullick Capital Management Corp bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,051 shares of the natural resource company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Freeport-McMoRan by 240.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock valued at $3,994,000 after purchasing an additional 56,475 shares during the last quarter. Great Valley Advisor Group Inc. acquired a new stake in shares of Freeport-McMoRan in the third quarter valued at approximately $282,000. Larson Financial Group LLC raised its holdings in shares of Freeport-McMoRan by 14.6% during the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock valued at $112,000 after buying an additional 287 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of Freeport-McMoRan by 5.5% during the third quarter. Independent Advisor Alliance now owns 14,418 shares of the natural resource company’s stock valued at $720,000 after buying an additional 746 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Freeport-McMoRan by 17.1% during the third quarter. Brown Brothers Harriman & Co. now owns 6,340 shares of the natural resource company’s stock worth $316,000 after buying an additional 927 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FCX shares. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $48.00 to $52.00 in a research note on Thursday, March 20th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.04.

Freeport-McMoRan Stock Down 3.6 %

Shares of Freeport-McMoRan stock opened at $39.99 on Friday. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The firm has a market capitalization of $57.47 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average is $38.18 and its 200-day moving average is $41.98.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is 23.26%.

Freeport-McMoRan 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.