Freeport-McMoRan (FCX) to Benefit from Current Market Says Cramer (JOYG) (POT)
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Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) is a buy right now according to CNBC's Mad Money host Jim Cramer, as he said investors need to remain cautious.
"I don't know how long this rally will last," Cramer said.
Shares of FCX rose 3.40 percent to $52.00 on Thursday as the euro rose higher, prompting hedge funds to take more risk on commodities, such as copper, corn, aluminum and nickel.
Cramer said that if the nuclear crisis subsides, FCX could go much higher. He added that Joy Global Inc. (NASDAQ: JOYG) and Potash Corp. (NYSE: POT) will also benefit in this market.
"I don't know how long this rally will last," Cramer said.
Shares of FCX rose 3.40 percent to $52.00 on Thursday as the euro rose higher, prompting hedge funds to take more risk on commodities, such as copper, corn, aluminum and nickel.
Cramer said that if the nuclear crisis subsides, FCX could go much higher. He added that Joy Global Inc. (NASDAQ: JOYG) and Potash Corp. (NYSE: POT) will also benefit in this market.
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