Mineral Mania
"Even with today's selloff, minerals are in total bull market mode right now," Cramer said. The "three wise men" in this space, he said, have long been CVRD (RIO Quote), BHP Billiton (BHP Quote) and Rio Tinto (RTP Quote). But now it's time to say hello to a new fourth member, said Cramer, as he introduced Teck Cominco (TCK Quote). Even though this is a smaller mineral company than the other three, is has just as much upside as the bigger guys, Cramer told viewers. It's so hot, "nothing can hold it back," he said. Teck does have exposure to zinc, which doesn't seem to be as hot as right now, but just about everything else the company offers is performing well. And the fact that zinc is not doing so well is a reason to get into the stock now at a discount, Cramer said. The mineral group shows no signs of slowing, and Teck is the new name people should be looking at here. It's benefiting from the Chinese demand of zinc and copper and is a way to play China without having to buy a Chinese company, Cramer said. Furthermore, if its bid for Aur Resources goes through, Teck's copper reserves and resources should increase by more than 100%, and it could have more copper than zinc. Cramer said Teck had been unfairly left out from his favorite mineral and mining picks, but "that ends today," he said.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,291.26 | 1,098.51 | 2,166.90 | 34.74 |
Oil *
77.90
|
|
UP
44.29
|
UP
5.50
|
UP
15.82
|
DOWN
0.08
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10 Yr
3.47%
SPDR Gold
109.60
|
|
+0.43%
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+0.50%
|
+0.74%
|
-0.23%
|
Data delayed 20 minutes |














