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Cramer's lightning round: An overseas contract issue means trouble for this mining play

Elizabeth Gurdus
Source: CNBC. Jim Cramer zipped through his take on callers' favorite stocks, including the struggling travel cohort.

It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:

Freeport-McMoRan Inc. (NYSE: FCX): "You know, this whole thing with Indonesia's just gotten too tough for me. I'm going to have to say, 'don't buy.' If they didn't have this Indonesia contract issue, it would be a buy. But it's too dicey for me."

Wix.com (NASDAQ: WIX): "[For an entry point,] not the 52-week high like it hit today. It did a reversal, too, island reversal for you tech people. But it's a really good company, it's the best way to make a website. You know, I like Adobe, which my charitable trust owns, and I like Wix. But let this come in. There's no reason why it hit a 52-week high today. It sells at 212 times earnings. That's not exactly cheap."

Omeros Corporation (NASDAQ: OMER): "This is another one that's just spiked. It's incredibly hot. It's never made any money. It has almost no revenue. It does have some money in the bank. But it's got a great pipeline. It's a total spec, but honestly, at this spike at $16, I've got to tell you, don't buy."

Zions Bancorporation (NASDAQ: ZION): "I like Zion bank stock. It does need two rate hikes, but I do like it very much. It's one of the more interesting down-and-out banks that I think can come back."

Compass Diversified Holdings (NYSE: CODI): "Now, this is another one of those companies where I don't really know, you can't really tell what they own. And when you can't really tell what you own, then you're taking your life in your hands. I'm sorry, I know there's a lot of companies like that, but that's my standard answer."

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