Robust 2025 Outperformance, Gold-Silver Expansion, and Balance-Sheet Strength Underpin Vox Buy Call

Vox Royalty, the Basic Materials sector company, was revisited by a Wall Street analyst yesterday. Analyst Rene Cartier from BMO Capital maintained a Buy rating on the stock and has a $6.50 price target.

Rene Cartier has given his Buy rating due to a combination of factors, primarily Vox Royalty’s stronger-than-expected operating and financial performance in 2025. The company’s fourth-quarter royalty and net precious metal receipts came in well ahead of his forecasts, and full-year results surpassed management’s own guidance range. Cartier also highlights that Vox’s recent portfolio additions have meaningfully increased its exposure to gold and silver, which he views as a favourable shift in the commodity mix. Moreover, the company’s decision to fully repay the outstanding balance on its credit facility has strengthened the balance sheet and preserved access to substantial undrawn credit capacity for future transactions.
At the same time, Cartier views the impairment on the Brits vanadium royalty as a non-core, non-cash adjustment that does not affect his near-term outlook. He notes that Vox’s current level of cash flow is sufficient to fund operations and growth initiatives without relying on external financing, supporting the view that the business model is financially resilient. The ongoing strategy of adding new royalty deals, broadening the shareholder base, and expanding the asset portfolio—despite many royalties still being pre-production—creates a pipeline of potential future cash flows as projects advance. Taken together, these elements underpin Cartier’s conviction that Vox is well positioned for further value creation, supporting his Buy recommendation on the stock.

In another report released on January 24, TipRanks – PerPlexity also upgraded the stock to a Buy with a C$8.50 price target.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VOXR in relation to earlier this year.