Cramer Backs This Mining Giant After $1.6B Bet

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Rio Tinto (NYSE:RIO) has a big yield and recommended buying the stock. “I believe in the minerals. I think you're fine,” he added.

As per the recent news, Rio Tinto and Hancock Prospecting announced on June 24 a joint investment of $1.61 billion to develop the Hope Downs 2 iron ore project in Western Australia’s Pilbara region. A 50-50 investment will drive a significant expansion of the long-standing Hope Downs Joint Venture between the two companies.

Cramer said TG Therapeutics, Inc. (NASDAQ:TGTX) is a buy.

Supporting his view, the company, on May 5, reported first-quarter sales of $120.86 million, up from $63.47 million a year ago, beating the consensus of $118.43 million.

Michael S. Weiss, TG Therapeutics Chairman and Chief Executive Officer, stated, "2025 is off to a strong start, and I'm incredibly proud of the progress made thus far. Our performance in the first quarter, including BRIUMVI's $119.7 million in U.S. net sales, demonstrates the growing confidence in our treatment and the increasing adoption by healthcare providers.”

“This momentum, combined with the positive feedback we're hearing from both patients and clinicians, reinforces our belief that we can achieve our long-term goal of BRIUMVI becoming the number one prescribed anti-CD20 treatment based on dynamic market share," he added.

Price Action:

• Rio Tinto shares fell 0.7% to settle at $58.33 on Monday.
• TG Therapeutics shares declined 2% to close at $35.99.

Read Next:

• 5 Stocks In The Spotlight: Wall Street’s Most Accurate Analysts Weigh In

Photo: Shutterstock