11 Best Canadian Gold Stocks to Buy According to Hedge Funds

3. Equinox Gold Corp. (NYSE:EQX)

Number of Hedge Fund Holders: 33

Year-To-Date Returns: 27.49%

Equinox Gold Corp. (NYSE:EQX) is one of the best Canadian gold stocks to buy according to hedge funds. On July 16, TD Securities upgraded Equinox Gold from Hold to Buy and raised its price target to C$12.00 from C$11.00, citing an attractive risk/reward profile following the company’s underperformance since the CXB deal in February. The firm views the recent guidance reset as a “risk-clearing event” that could shift investor focus toward operational execution.

TD also pointed to potential upside from portfolio optimization, suggesting strategic moves could further enhance value. The upgrade reflects growing confidence in Equinox Gold’s ability to deliver stronger performance in the near term.

Equinox Gold Corp. (NYSE:EQX) is a Canadian mining company. It acquires, develops, and operates gold mines throughout the Americas, including assets in the United States, Mexico, Brazil, and Canada. Its key sites include the Greenstone mine in Ontario and the Los Filos mine in Mexico. Equinox Gold’s main product is gold bullion, extracted from open-pit and underground mining operations.