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AM Market Movers: Freeport Mcmoran Copper and Gold Inc (FCX)

Freeport Mcmoran Copper and Gold Inc (FCX) declined 3% despite the end of labor strikes in Peru as union leaders announced the possibility of renewed strikes on Sept. 27. The stock lost $1.15 so far today.

FISHER ASSET MANAGEMENT

Freeport Mcmoran is an international copper, cold, and molybdenum mining company with operations throughout North and South America and the Democratic Republic of Congo. Here are the top 6 hedge funds in the hole as Freeport dipped:

1. Ken Fisher – Fisher Asset Management: Lost $9 million
2. Peter J. Eichler Jr. – Aletheia Research and Management: Lost $3 million
3. Jeffrey Vinik – Vinik Asset Management: Lost $3 million
4. Ken Heebner – Capital Growth Management: Lost $3 million
5. Richard Chilton – Chilton Investment Group: Lost $2 million
6. Dan Loeb – Third Point: Lost $2 million

You can see the other funds to lose value here. These calculations assumed that these hedge funds did not increase or reduce their stock positions in Freeport Mcmoran since the end of June. We did not take into account their option positions.

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