In a report released yesterday, Tate Sullivan from Maxim Group maintained a Buy rating on Vox Royalty (VOXR – Research Report), with a price target of $6.00.
Tate Sullivan has given his Buy rating due to a combination of factors including Vox Royalty’s recent financial performance and promising future revenue prospects. The company reported first quarter 2024 revenues and net income that not only surpassed Sullivan’s projections but also demonstrated a significant increase in free cash flow compared to the previous year. This financial robustness, coupled with a maintained revenue guidance for the year and a notably increased quarterly dividend, underscores Vox Royalty’s solid operational foundation and its capability to sustain dividend growth through its free cash flow.
Further reinforcing Sullivan’s positive outlook is the company’s potential for revenue expansion, anchored in the existing royalty portfolio. VOXR has highlighted several assets within its portfolio that are expected to start generating revenue in the near future, including a royalty with a substantially increased gold resource estimate. Additionally, the company’s ongoing royalty-producing mine expansions suggest further opportunities for growth. These factors, supported by a detailed discounted cash flow analysis, justify Sullivan’s maintenance of a $6.00 price target and his Buy rating on VOXR.
According to TipRanks, Sullivan is a 5-star analyst with an average return of 13.5% and a 48.60% success rate. Sullivan covers the Industrials sector, focusing on stocks such as BWX Technologies, Seanergy Maritime, and Euroseas.
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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.
