Freeport-McMoRan Inc. (FCX): "Last Thing I Want To Do Is Sell FreePort," Says Jim Cramer

We recently published 11 Fresh Stocks Jim Cramer Talked About While Discussing AI-Led “American Renaissance”. Freeport-McMoRan Inc. (NYSE:FCX) is one of the stocks Jim Cramer recently discussed.

Freeport-McMoRan Inc. (NYSE:FCX) is one of the largest copper mining companies in the world. Its shares have gained 15.9% year-to-date primarily due to AI-related catalysts. AI, which requires data centers, also increases the demand for electrical equipment and, by extension, copper. Freeport-McMoRan Inc. (NYSE:FCX)’s shares dipped by 6.6% in July after President Trump announced his copper tariffs. Cramer commented on the share price movement and the broader environment for Freeport-McMoRan Inc. (NYSE:FCX):

“Yeah I mean FreePort people feel copper’s run enough. I think that’s a mistake. Copper’s multiple year growth.

“I saw we had that downgrade of FreePort, uh, FreePort owns 48% of a mine called Grasberg. Which is the largest copper mine and is owned, the rest is owned by Indonesia. And Reuters reporting is that we may have a trade deal with Indonesia. So the last thing I want to do is sell FreePort. Because that makes me feel so much better about Grasberg. That has always been the political risk there.

“Not a small country for heaven’s sake. And I think that this could be very good for copper.”

Previously, he shared that he doesn’t want to own Freeport-McMoRan Inc. (NYSE:FCX):

“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.”

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.

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

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