, said Jim Cramer on Tuesday's "Stop Trading!" segment on
with Erin Burnett.
"I have been buying this stock right here, right now for my charitable trust," he said, adding that "every time the stock comes down, it's a ridiculous buy!"
The stock is down 6% to $110.32.
Cramer praised Richard C. Adkerson, CEO and president of Freeport, who was on the show earlier with Erin Burnett. "He's great, just great!" Cramer said. He called Adkerson honest and said he's doing a terrific job running his business in a tough environment.
is down 10% to $36.93 after it reported a sharp drop in its second-quarter earnings yesterday. The company reported 56 cents a share, while analysts had expected 83 cents a share. "It has tarnished its franchise," Cramer said. "Why did they have to go into lending?"
Cramer went on to talk about natural gas. He thinks natural gas is nearing a bottom, and judging from a risk/reward standpoint, he said, he sees more upside potential, which he feels will benefit
Canadian Natural Resources
. The stock is down about 4% to $86.12.
He briefly mentioned
( WFMI), saying: "It is turning into a yield play." Cramer also said he has "a lot of faith" in
since the company has demonstrated strong financial results that he believes will continue.
At the time of publication, Cramer was long Freeport-McMoRan.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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