FXC reports Thursday before the bell. Analysts expect the company to earn $1.61 a share on $4.195 billion in revenue vs. a loss of 85 cents per share on $2.067 in revenue for the year earlier fourth quarter.

At $84 a share, and assuming it meets the consensus earnings estimate on Thursday, Freeport trades at 16 times expected 2009 earnings of $5.35 per share, and 11 times the $7.56-per-share analyst consensus earnings estimate for 2010.

long-term technical support in the high-$60s to low-$70s