We recently published a list of Jim Cramer Discusses These 10 Stocks & Says “Traders Are Dumb As Wood.” In this article, we are going to take a look at where Freeport-McMoRan Inc. (NYSE:FCX) stands against other stocks that Jim Cramer discussed.
In his latest appearance on CNBC’s Squawk on the Street, Jim Cramer commented on the response by markets to Fed Chairman Jerome Powell’s comments that the inflationary effects of tariffs could be transitory. Higher inflation from tariffs had led investors to worry that the Fed might raise interest rates. However, Powell’s language assuaged these customers. Commenting on Powell and the markets, Cramer commented:
“People at home have to recognize David that there are two markets. There’s the very considered market, that was in keeping with the considered Fed reserve chief, and that’s what we have after two o’ clock. And then there’s the wild night time market where you come in and everything has just been divorced from what you heard the day before. It must be very confusing for people to say, oh my, what happened, seems like there’s a wholesale reconfiguration, a reset so to speak. But it’s all nonsense. What you see on the screen is worthless. No longer do these futures have any sort of correlation with what happened even last night. Now some of that could be because we have a new President. Some of it could just be that there’s lunacy and people who are not manipulating but making ill-advised trades long before the market opens. You’re seeing the 24 hour market, David. The problem is, in keeping with the fact that I’m at [a home improvement retailer], the traders are dumb as wood.”
Another investor concern and one that’s gone unnoticed amidst the debate surrounding tariffs and last week’s massive selloff is weakening customer sentiment. Cramer also commented on these worries and bank CEO Jamie Dimon’s thoughts on the matter:
“I think March is weak, I think the consumer is spending less. I agree with Jamie Dimon. . .Look I think that there’s genuine weakness in the endless talk about tariffs is soon going to make it so that it’s too boring to listen to us. Everyone is concerned about tariffs. People are asking about whether it’s reciprocal or protective. I mean, once again I hear, is it Hamilton or McKinley? I mean let’s stop it. No one even knows those guys anymore. What bill is McKinley on? But I will say that it is worrisome to people, so therefore they sell, soon as they hear tariffs, they get nervous.”
Our Methodology
To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC’s Squawk on the Street aired on March 20th.
For these stocks, we also mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Freeport-McMoRan Inc. (NYSE:FCX)
Number of Hedge Fund Holders In Q4 2024: 88
Freeport-McMoRan Inc. (NYSE:FCX) is a mining company that deals with materials such as gold and copper. The firm’s shares are up by 7.4% year-to-date and have lost 11.5% over the past year. 2025’s gains have come on the back of an 18% jump in March. Freeport-McMoRan Inc. (NYSE:FCX)’s shares have benefited from the beneficial impact of tariffs on the firm. Cramer also believes this to be the case as he commented:
“Freeport, there’s a JPMorgan piece out there upgrading to Overweight. Now what’s important David, let’s say you believe in tariffs. Let’s say that everything is going on and you don’t like the President, or you love the President, doesn’t matter. Freeport could have a 400 to 450 million EBITDA tailwind from tariffs! So let’s say here’s like woohoo tariffs! Go buy some FCX. And by the way, Jensen Huang is saying that copper is the dominant metal that goes into the data centers. It’s not in the report. The report mostly talks about, yes, Chinese stimulus, cause a lot of the, almost, that’s the majority of copper is used in China. But I really like the call. Stock’s not that expensive. Go buy it.”
“JPMorgan, David. Good as gold. Gold’s a good by product of Freeport. And gold is hitting another high.”
Overall, FCX ranks 3rd on our list of stocks that Jim Cramer discussed. 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 doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FCX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
