The Globe and Mail reports in its Friday, July 21, edition that National Bank analysts remain constructive on the spot gold price in 2023. The Globe's David Leeder writes in the Eye On Equities column that the analysts continue to rate Lundin Gold "sector perform," while boosting their share target by 50 cents to $20.50. Analysts on average target the shares at $20.60. National Bank analysts say in a note: "In our opinion, over the coming months, we could see the spot gold price swing wildly (+/- 1 or more per cent) around key U.S. economic data points with the U.S. Fed's latest dot plot calling for two additional rate hikes before the end of the year as inflation remains well above the target level and the labour market remains robust. Generally, we believe that in this gold price scenario, the best gold companies to invest in continue to be those with near-term production growth that is well funded and relatively lower-risk. ... Based on our 2023 Outlook report, we believe that 2023 could prove a good year to be overweight gold equities." The Globe reported on April 11 that Haywood Securities analyst Kerry Smith had downgraded his recommendation for Lundin Gold to "hold" from "buy." It was then worth $16.71.