10 Value Stocks in Ken Fisher’s Portfolio

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

Fisher Asset Management Equity Stake: $2.26 Billion

Forward P/E Ratio as of April 17: 18.21

Number of Hedge Holders:  88

Freeport-McMoRan Inc. (NYSE:FCX) is a basic materials company that engages in the mining of mineral properties. It primarily explores and develops copper, gold, molybdenum and silver properties around the globe. It is one of the top-value stocks in Ken Fisher’s portfolio, poised to capitalize on soaring prices of precious metals.

On April 16, Wolfe Research upgraded Freeport-McMoRan Inc. (NYSE:FCX) to an Outperform with a $39 price target. The bullish stance comes on Freeport McMoran announcing a $0.15 dividend yield to be paid on May 1. The stock yields 0.9% on dividends affirming the company’s focus on returning value to shareholders.

In addition, Freeport-McMoRan Inc. (NYSE:FCX) expects its Q1 copper sales to align with its January forecast of 850 million pounds. Consequently, the company should benefit from soaring copper prices as demand remains high. While gold sales are expected to be about 100,000 ounces lower than the January forecast of 225,000 ounces, the company’s consolidated unit cash should increase by 5% owing to high gold and copper prices.