Jim Cramer on Freeport-McMoRan: “You’re Fine in the Stock”

Freeport-McMoRan Inc. (NYSE:FCX) is one of the stocks on Jim Cramer’s radar. Pointing to its large Indonesian copper and gold mine, growing copper demand, and rising gold prices, a caller asked about the company. In response, Cramer remarked:

“Yeah… look, the stock, everyone just thinks that Indonesia is going to expropriate the mine. I don’t think so. I think you’re fine in the stock.”

A person with stock market data on a laptop. Photo by Anna Nekrashevich on Pexels

Freeport-McMoRan Inc. (NYSE:FCX) is a mining company that produces copper, gold, molybdenum, silver, and other metals. During the June 26 episode, Cramer mentioned the company and said:

“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.”

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Disclosure: None. This article is originally published at Insider Monkey.