BMO Capital Markets on Friday maintained its outperform rating on the shares of Vox Royalty (VOXR.TO) while raising its price target to US$4.00 from US$3.50 following the company's first-quarter results.

"Vox reported Q1/25 adjusted EPS a bit below our estimate primarily due to higher taxes, while quarterly revenue was in line with our forecast. Cash flow was a bit below our expectations. Guidance for 2025 revenue was increased following the acquisition of the Kanmantoo NSR royalty. In our view, the transaction was completed at an attractive IRR, provides immediate cash flow, benefits from public operator disclosures, is located in a quality jurisdiction, and has upside exploration optionality. Target price increases to $4.00 (from $3.50)," analyst Rene Cartier wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 4.64, Change: -0.07, Percent Change: -1.49