Vox Royalty (VOXR – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst yesterday. Analyst Tate Sullivan from Maxim Group remains neutral on the stock and has a $6.00 price target.
Tate Sullivan’s Buy rating of Vox Royalty (VOXR) was influenced by several factors. Firstly, recent rebounds in gold and iron ore prices, as well as VOXR’s latest acquisition, played an important role in maintaining the forecasts. Furthermore, the potential for VOXR to earn revenue from granting other royalty companies access to its proprietary royalty database was another positive aspect considered. Gold and iron ore prices increased by 7.8% and 2.7% respectively quarter-to-date, encouraging a positive outlook for the company.
Additionally, VOXR ended the year with a strong balance sheet, with $7.9M of cash and no debt. This financial stability, along with the forecast that the company will fund operations and dividend growth in the coming years with free cash flow, further strengthens the buy recommendation. Sullivan’s Buy rating and $6.00 price target were derived from a DCF analysis with an average discount rate of 11.5% to calculate a net asset value on 32 of VOXR’s 70 royalties. The recent acquisition of a gold royalty is expected to contribute to VOXR’s revenue, thereby bolstering their financial standing.
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Vox Royalty (VOXR) Company Description:
Vox Royalty Corp is a mining royalty and streaming company. The company’s portfolio is focused on precious metals royalties.
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