11 Fresh Stocks Jim Cramer Talked About While Discussing AI-Led “American Renaissance”

7. Freeport-McMoRan Inc. (NYSE:FCX)

Number of Hedge Fund Holders In Q1 2025: 84

Freeport-McMoRan Inc. (NYSE:FCX) is one of the largest copper mining companies in the world. Its shares have gained 15.9% year-to-date primarily due to AI-related catalysts. AI, which requires data centers, also increases the demand for electrical equipment and, by extension, copper. Freeport-McMoRan Inc. (NYSE:FCX)’s shares dipped by 6.6% in July after President Trump announced his copper tariffs. Cramer commented on the share price movement and the broader environment for Freeport-McMoRan Inc. (NYSE:FCX):

“Yeah I mean FreePort people feel copper’s run enough. I think that’s a mistake. Copper’s multiple year growth.

“I saw we had that downgrade of FreePort, uh, FreePort owns 48% of a mine called Grasberg. Which is the largest copper mine and is owned, the rest is owned by Indonesia. And Reuters reporting is that we may have a trade deal with Indonesia. So the last thing I want to do is sell FreePort. Because that makes me feel so much better about Grasberg. That has always been the political risk there.

“Not a small country for heaven’s sake. And I think that this could be very good for copper.”

Previously, he shared that he doesn’t want to own Freeport-McMoRan Inc. (NYSE:FCX):

“Then it was Freeport-McMoRan, that’s the copper miner. Copper’s been a loser for years, but periodically, the Chinese order tons of it, or we buy it in bulk for the data centers. I don’t want to own Freeport, even as copper is up 25% for the year. Freeport is a trading vehicle, and we don’t do that around here, but it certainly demonstrates the diversity of this top 10 list.”