Here’s Why Jim Cramer Thinks Freeport Shares Could Move Higher

Jim Cramer says shares of Freeport-McMoRan could be a buy if the commodities play starts shedding oil assets.
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TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer believes shares of Freeport (FCX) - Get Report could be a buy if the commodities company starts shedding oil assets. Cramer points to Chesapeake (CHK) - Get Report and Marathon (MRO) - Get Report which have both been selling assets. Cramer said, 'What would happen if Freeport really started peeling off some oil. FCX is a stock that was a short all the way down when commodities were going down. Now that commodities have stabilized Freeport might be a long.'

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.