Jim Cramer gave top insight on Freeport-McMoRan Inc. (NYSE:FCX), sharing a game plan of what to buy, sell, and hold right now. A club member requested an outlook on copper prices, specifically asking about FCX. Cramer replied:

I have to tell you, I think that copper is peaking. They also have a gold business, too, but the reason I say… copper’s peaking is that one of the biggest uses of copper is in the data center, and fiber is replacing a lot of the copper. And by the way, copper was also in Chinese, two-thirds of the copper goes to China. They are not building like they used to. So I think you’ve got a metal that I think is very subpar. I don’t want to be there.

Stock market data. Photo by Jakub Zerdzicki on Pexels

Freeport-McMoRan Inc. (NYSE:FCX) is a mining company producing copper, gold, molybdenum, silver, and other metals. Cramer discussed the company as part of his game plan presented on January 16, as he commented:

Now, we know copper and gold have been red-hot, so I have to believe that Freeport-McMoRan, a copper and gold producer, will get its fair share of money coming in. I like gold, and I think that even up here, it can still be bought. As for copper, it’s a little pricey, but it is needed in the data center. Look, it’s a twofer. Stock… has tended to go down after it reports.

We recently discussed the best mineral stocks to invest in, and Freeport-McMoRan Inc. (NYSE:FCX) was a part of it. You can read more about it here.

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