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Freeport-McMoRan (NYSE: FCX) shares were on fire this week, popping 14.3%, according to data from S&P Global Market Intelligence. A torrid run in metal prices has sparked strong investor interest in the copper stock ahead of the company's quarterly earnings release. The biggest trigger for this stunning price surge is tight global supply, with copper inventories at the London Metal Exchange (LME) tumbling to levels last seen in 1974.
Freeport-McMoRan (FCX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.