Jim Cramer Put These 16 Stocks Under a Microscope

4. Freeport-McMoRan Inc. (NYSE:FCX)

Number of Hedge Fund Holders: 88

Freeport-McMoRan Inc. (NYSE:FCX) was mentioned during the episode, and here’s what Cramer said:

“Alright, I think copper’s going higher and one of the reasons why I like it, by the way… China’s coming back. They’re the biggest user of copper. But also something that Jensen Huang told me, from Nvidia, he said, listen, copper is just the right thing to have in the data center. I was hoping it’ll be replaced by glass… Two-thirds of the copper is used by China and China’s making a comeback here. At least parts are trying to make it a comeback.”

Freeport-McMoRan (NYSE:FCX) is involved in the extraction of mineral resources across North America, South America, and Indonesia, with a focus on copper, gold, molybdenum, silver, and other metals. Appearing on Squawk on the Street last week, Cramer said:

“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.”