Alcan (AL) - Get Report, which Cramer owns for his charitable trust Action Alerts PLUS, is a good place to be right now, Aaron Task told a caller on Jim Cramer's "RealMoney" radio show Thursday. Task, co-executive editor of TheStreet.com, is filling in for Cramer this week.

John Hills, a metals analyst at Citigroup also called Alcan one of his favorite plays in the mining sector, Task said.

Task's guest Chip Hanlon, president of Delta Global Advisors and a contributor to

RealMoney.com

said that although there doesn't seem to be much risk with this stock, he's wary of the fact that people forget to factor in the cost of production when talking about a mining company.

When a caller inquired about

Freeport-McMoRan

(FCX) - Get Report

, Task said it is the largest copper producer in world and has a huge mine in Indonesia that produces gold.

Therefore the company has really benefited from the explosion in commodities prices that have appeared to have peaked, Task said. However, there is concern about the political risk of operating a mine in Indonesia, he added.

Task believes that Phoenix-based, copper mining company

Phelps Dodge

(PD) - Get Report

, which recently acquired Canada-based industrial metals and minerals companies

Inco

(N)

and

Falconbridge

(FAL)

, is a better opportunity and has a more diversified portfolio.

Hanlon advised the caller to decide on which stock he wanted to own -- either gold or copper. If the caller decided to own both, then Hanlon said maybe Freeport is the best way to go; but if the choice is one over the other, Hanlon said there are better pure plays to look at.

When Task asked Hanlon about his thoughts on Phelps, Hanlon said, typically stocks that make big acquisitions take a while to digest them.

"Fundamentally I wouldn't see the enormous rush to piling into this stock," Hanlon said. "I would be patient in the way to go after it." If people are looking for more exciting short-term action, Hanlon said he would look into other holdings.

Task said communications equipment company

Finisar

(FNSR) - Get Report

became one of the favorite momentum stocks when there was a rally.

But the problem with this stock, as with any momentum stock, is when the momentum game ends the momentum players get out of the stock and bail, which causes it to decline, he said.

Task advised the caller that if he was going to trade the stock, make sure to understand that FNSR is speculative and that people shouldn't put their retirement money into.

Task recommended getting out of Finisar if it falls under $3 (it was recently at $3.29).

To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.

Aaron L. Task is the co-executive editor of TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships.

Click here

to send him an email.