(Freeport McMoRan story updated with further information from the company's fourth-quarter earnings release.)PHOENIX ( TheStreet) - Freeport McMoRan ( FCX) exceeded Wall Street expectations with its fourth-quarter results as copper prices surged to record highs amid an all-around boom in commodities. Despite the bouyant report, Freeport stock came under selling pressure Thursday, changing hands recently at $109.66, down 5%. Freeport shares have rallied sharply since August, on the back of copper's fierce appreciation in value. But fears of an interest-rate hike in China, aimed at cooling growth in the world's most rapacious consumer of raw materials, once again took its toll on commodities prices Thursday. Metals and mining shares fell sharply across the board.