Cramer goes South -- way South, to Southern Copper

Evidently, Jim Cramer can opine on worldwide politics, not just money! Tonight on MAD MONEY he went far afield from his usual fare and pointed to the New York Times World Briefing about how the leader of the Shining Path in Peru will spend the rest of his life in prison.

Cramer, the sort to see an investment decision in any news, said this is actually good for Peru. But what's the pick? He likes Southern Copper Corporation (NYSE:PCU) the best, formerly Southern Peru Copper. He thinks Peru is a good Latin country that is still pro-capitalism. He thinks it is a real democracy, but the real reason to buy is the yield. It yields 8% from its dividend. It is also #4 on Fortune's 100 Fastest-Growing Companies. He said it has larger reserves than Phelps Dodge Corporation (NYSE:PD) and he said the company can smelter copper cheaper than others. He also said a strike resolution was favorable to the company. Cramer also said that the new non-hedging policy on copper prices will create an earnings explosion.

Cramer has been positive on Southern Copper before. Its shares closed down 0.7% at $50.65 in regular trading, but it traded up to $51.50 after Cramer touted the stock. Its 52-week trading range is $24.79 to $54.97.