The first quarter earnings at Goldcorp Inc. (GG) beat the street, but that was despite of some very weak results from the Canadian operations. The flagship Red Lake mine produced 128,500 ounces, way down from 179,400 ounces in the same quarter a year ago due to mine sequencing issues. The Porcupine and Musselwhite projects also underperformed.

Nonetheless, Goldcorp maintained its production guidance of 2.6 million ounces of gold for 2008.