Jim Cramer: Sell This Major Energy Stock, Go With This Canadian Mining Company

On CNBC’s Mad Money Lightning Round Jim Cramer recommended selling BP after the oil major reported Q3 adjusted EPS of $0.85 versus consensus $0.75 but missed on revenue at $48.42 billion versus $51.38 billion expected, with shares essentially flat at $35.25; he also said he prefers Cardinal Health to Cencora despite Cencora’s agreement to buy the remaining majority stake in OneOncology for about $3.6 billion and retire $1.3 billion of debt (total consideration ~ $5 billion), a deal that coincided with Cencora shares rising 1.3% to $350.32. Cramer called Perpetua Resources “hot” yet recommended Agnico Eagle; Perpetua missed Q3 estimates with a $0.24 loss versus a $0.03 expected loss and its stock fell 6.9% to $26.84.

Analysis

Jim Cramer recommended selling BP on CNBC despite the oil major reporting Q3 adjusted EPS of $0.85 versus consensus $0.75, highlighting a beat on per-share profitability while total revenue of $48.42 billion missed analyst expectations of $51.38 billion and was only modestly above last year's $47.25 billion; shares were effectively unchanged, closing at $35.25 (-0.03%), suggesting the market views the results as mixed. Cramer expressed relative favoritism for Cardinal Health over Cencora even as Cencora agreed to acquire the remaining majority stake in OneOncology from TPG and other shareholders for approximately $3.6 billion and will retire $1.3 billion of corporate debt (total consideration ~ $5 billion); Cencora shares rose 1.3% to $350.32, indicating investor approval of the strategic consolidation but raising integration and leverage questions. Perpetua Resources reported a wider-than-expected Q3 loss of $0.24 per share versus an expected $0.03 loss and saw its stock fall 6.9% to $26.84; Cramer called Perpetua “hot” but recommended Agnico Eagle, underscoring a preference for larger, more diversified miners amid execution risk at smaller juniors. The thematic takeaway is a short-term risk-off stance on idiosyncratic energy and junior-miner exposure (BP and Perpetua), balanced against selective M&A-driven upside (Cencora) that requires monitoring of deal execution and balance-sheet effects.

Key Decisions for Investors

• Consider trimming BP exposure or implementing short-term hedges given the revenue miss despite an EPS beat and Cramer’s public sell recommendation, and monitor upcoming guidance and oil-price signals before reaccumulating
• Perform focused due diligence on Cencora’s OneOncology deal capital structure and integration plan before adding exposure; compare operational and valuation metrics with Cardinal Health if considering a sector rotation
• Avoid initiating new positions in Perpetua after the Q3 earnings miss and 6.9% share decline; prefer larger diversified miners such as Agnico Eagle for precious-metals exposure to reduce execution risk
• Use position sizing to limit idiosyncratic risk and watch near-term catalysts—BP revenue trajectory, OneOncology integration milestones and leverage metrics, Perpetua operational updates, and commodity/energy price moves—to adjust positions tactically