Ken Fisher’s Latest Portfolio: 5 Best Picks Under $30

2. Freeport-McMoRan Inc. (NYSE:FCX)

Fisher Investments’ Stake Value: $1.52B

Percentage of  Fisher Investments’ 13F Portfolio: 1.07%

Number of Hedge Fund Holdings: 56

Share Price (As of September 15): $29.33

Based in Phoenix, Arizona, Freeport-McMoRan Inc. (NYSE:FCX) is an American mining company, and is a major producer of molybdenum, copper and gold. It operates the world’s largest gold mine, the Grasberg mine in Papua, Indonesia. On August 15, RBC Capital analyst Sam Crittenden lowered the price target on Freeport-McMoRan Inc. (NYSE:FCX) to $35 from $46, maintaining a Sector Perform rating on the shares.

As of Q2 2022, Fisher Investments is the largest shareholder in the stock, owning more than 52 million shares worth at around $1.52 billion.

Here is what Carillon Tower Advisors had to say about Freeport-McMoRan Inc. (NYSE:FCX) in their Q1 2022 investor letter, a copy of which can be obtained here:

“Supply chains eased for some goods, but remained challenged for many commodities including energy, agriculture, and fertilizer due to war and general scarcity, and also in many consumer products as semiconductors remained in short supply. Copper and gold producer Freeport- McMoRan (NYSE:FCX) rose as copper prices remained strong due to supply shortages and growing use in renewable energy systems and electric vehicles.”