Hurley Capital LLC Makes New $63,000 Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Hurley Capital LLC purchased a new position in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,670 shares of the natural resource company’s stock, valued at approximately $63,000.

A number of other large investors also recently modified their holdings of FCX. Asset Planning Inc acquired a new position in Freeport-McMoRan during the 4th quarter valued at about $25,000. Mizuho Bank Ltd. acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth approximately $27,000. Laurel Wealth Advisors LLC raised its holdings in Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new stake in Freeport-McMoRan in the fourth quarter worth approximately $28,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 13.0 %

Freeport-McMoRan stock opened at $29.14 on Friday. Freeport-McMoRan Inc. has a twelve month low of $28.49 and a twelve month high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a market cap of $41.88 billion, a PE ratio of 22.59, a P/E/G ratio of 0.87 and a beta of 1.71. The firm’s 50 day moving average price is $37.75 and its two-hundred day moving average price is $41.73.

Freeport-McMoRan (NYSE:FCX) last released 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 return on equity of 7.50% and a net margin of 7.42%. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business 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 dividend yield of 2.06%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s payout ratio is 23.26%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FCX. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Monday, March 31st. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, March 6th. Raymond James lifted their price objective on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $48.00 to $52.00 in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.61.

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.