Freeport-McMoRan Inc. (FCX): Jim Cramer Still Likes It - "Buy Some Here, But Maybe Hedge with Gold"

We recently published a list of How Did Jim Cramer’s 12 Bold Predictions Play Out?. In this article, we are going to take a look at where Freeport-McMoRan Inc. (NYSE:FCX) stands against other stocks that Jim Cramer recently discussed.

During the most recent episode of Mad Money, Jim Cramer revisited the recent turbulence in artificial intelligence stocks, three months after the emergence of DeepSeek, a Chinese AI firm that initially rattled markets. He noted that despite the broad pullback in the sector, many of the fears triggered by DeepSeek’s debut have not materialized, which has led to a reconsideration of the panic that followed.

“Three months ago, January 23rd is a day that will live in artificial intelligence infamy. That’s when we learned that a Chinese firm called DeepSeek had figured out a way to train high quality generative AI models using far less hardware. They claim their hardware costs were around $6 million versus $80 to $100 million for their enormous American competitors.”

READ ALSO: Did Jim Cramer Nail All These 9 Stock Predictions? and What Happened After Jim Cramer Talked About These 13 Stocks.

The announcement sent shockwaves through the market. Cramer recalled how NVIDIA saw its stock fall sharply over just two trading sessions. The market reaction spread quickly beyond and hit other companies tied to data center infrastructure, which eventually pulled down the broader Nasdaq. However, Cramer noted that the company then revealed plans to build $500 billion worth of AI infrastructure in the United States over the next four years.

Cramer noted that initially, it seemed to signal a renewed sense of stability. But soon after, the administration imposed a ban on selling AI chips to China, which forced the GPU kingpin to write down $5.5 billion tied to that entire initiative. Even so, Cramer emphasized that the company’s core business remained strong.

“We understand that they’re basically sold out for the year, even as they can only sell their best stuff in the United States and the 18 friendly countries.”

Cramer attributed the export restrictions to a policy from former President Biden, one that President Trump has not reversed. Despite the geopolitical constraints, Cramer stressed that demand for the company’s technology is still overwhelming. He argued that the stock never should have experienced such a steep drop in the first place. He added:

“Even with the trade war, the AI infrastructure theme seems totally back on track. In fact, it never left the track to begin with.”

Our Methodology

For this article, we compiled a list of 12 stocks that were discussed by Jim Cramer during the episode of Mad Money on April 30, 2024. We then calculated their performance from April 30^th, 2024, market close to April 29^th, 2025, market close. We have also included the hedge fund sentiment for the stocks, which we sourced from Insider Monkey’s Q4 2024 database of over 900 hedge funds. The stocks are listed in the order that Cramer mentioned them.

Please note that this article mentions Jim Cramer’s previous opinions and may not account for any changes to his opinions regarding the stocks that are mentioned. It is primarily an examination of how his previously provided opinions have panned out.

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: 88

When a caller brought up Freeport-McMoRan Inc. (NYSE:FCX), the major copper and gold miner, Cramer expressed caution due to the stock’s rapid price surge at the time. Here’s what he said:

“I wanted to come in first. It’s been straight up. I do not like parabolic moves, and it just had one.”

Cramer’s call was spot on, with the stock having dropped 29.08% since then.

When asked about whether Freeport-McMoRan Inc. (NYSE:FXC) is worth holding recently Cramer replied with:

“Yeah, I want you to hold it. I mean, it was really a shame what happened to FCX. FCX has been going up because we needed it for data centers and the Chinese were ordering some. Suddenly we’ve decided the Chinese aren’t going to order any and the stock has given up so much of its gain… I think that this is a very good level to buy some. But if you want to really hedge it, why not buy Barrick? Because Barrick, symbol GOLD, has gold and copper. That might be the best way to go.”

Overall, FCX ranks 5th on our list of stocks that Jim Cramer recently 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. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. 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 this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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