Jim Cramer Says Freeport-McMoRan is a “Trading Vehicle”

Freeport-McMoRan Inc. (NYSE:FCX) is one of the top 10 S&P 500 winners of the day that Jim Cramer highlighted. Mentioning that he does not want to own it, Cramer 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.”

Jim Cramer Says Freeport-McMoRan is a "Trading Vehicle"

A large open-pit copper mine with heavy machinery extracting minerals from the earth.

Freeport-McMoRan Inc. (NYSE:FCX) is a mining company focused on the extraction of copper, gold, molybdenum, silver, and other metals, with a portfolio of major mineral assets across multiple regions. Diamond Hill Capital Concentrated Fund stated the following regarding Freeport-McMoRan Inc. (NYSE:FCX) in its Q4 2024 investor letter:

“Among our bottom individual contributors in Q4 were HCA Healthcare and Freeport-McMoRan Inc. (NYSE:FCX). Copper-focused mining company Freeport-McMoRan faced declining copper prices amid a generally challenging macroeconomic environment, including a strong US dollar, ongoing US-China trade tensions, the potential for increased tariffs under President-elect Trump’s administration and general post-election uncertainty.”

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Disclosure: None.