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Everyone’s Tired Of Buying Freeport-McMoRan Inc. (FCX), Says Jim Cramer

We recently published 13 Stocks Jim Cramer Discussed During His Historic Morning Appearance[1]. Freeport-McMoRan Inc. (NYSE:FCX) is one of the stocks Jim Cramer recently discussed.

Everyone's Tired Of Buying Freeport-McMoRan Inc. (FCX), Says Jim CramerEveryone's Tired Of Buying Freeport-McMoRan Inc. (FCX), Says Jim Cramer

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Freeport-McMoRan Inc. (NYSE:FCX)'s shares dipped by 5.9% on Tuesday after mining firms Teck Resources and Anglo American announced that they would merge to form a £53 billion giant. Naturally, investors were worried since the new entity could complicate Freeport-McMoRan Inc. (NYSE:FCX)'s position in the copper industry at a time when copper is experiencing tailwinds from the AI-related data center buildout.

Here is what Cramer said:

"Well look we do want copper plays. Everyone's tired of buying Freeport, which just goes down on you. Look David, you know that, did you know that this tech has been around forever and you have to hear hedge fund manager after hedge fund manager say [inaudible].

Did you remember delivering alpha? We heard people say this is the one it was like at 27. It has really been a not, not great performer.

The last time we heard it was in 2018 when it was 30 and it was supposed to be just the greatest. Well these mineral stocks have not been great."

While we acknowledge the potential of FCX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock[2].

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.[3][4]

Disclosure: None.

This article is originally published at Insider Monkey.[5]

References

  1. ^ 13 Stocks Jim Cramer Discussed During His Historic Morning Appearance (www.insidermonkey.com)
  2. ^ best short-term AI stock (www.insidermonkey.com)
  3. ^ 30 Stocks That Should Double in 3 Years (www.insidermonkey.com)
  4. ^ 11 Hidden AI Stocks to Buy Right Now (www.insidermonkey.com)
  5. ^ Insider Monkey (www.insidermonkey.com)