TD Securities Upgrades Equinox Gold (EQX) to Buy on Attractive Risk Profile

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. claffra/Shutterstock.com 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. While we acknowledge the potential of EQX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 12 Best Depressed Stocks to Buy in 2025 and Top 10 Medical AI Companies to Buy According to Analysts. Disclosure: None. This article is originally published at Insider Monkey.