Mining-royalty company Vox raises guidance, declares quarterly dividend; shares up

Shares of Vox Royalty Corp., whose business is built on royalties from gold miners, jumped 4.3% in extended trading on Wednesday to $6.55 apiece before giving up almost all of those gains. The company reported what it called “exceptional results” for the first quarter and raised its guidance for the full-year 2026.

Vox shares rose as much as 4.3% in extended trading on Wednesday to $6.55 apiece. But by premarket trading on Thursday, the stock was up just 0.2%.

Vox Royalty on Wednesday reported first-quarter results that it described as “exceptional.” Royalty and net precious metal receipts surged nearly sixfold year over year to a record $16 million. One reason for the increase was higher precious metals prices: while the average margin per ounce stood at $93.71 in the fourth quarter, it reached $179.40 in January-March.

Net income for the same period totaled $24.5 million, or $0.36 per share, versus a net loss of $0.4 million, or $0.01 per share, in the first quarter of 2025.

The growth in net income was driven in part by a $16.5 million revaluation of the gold portfolio Vox acquired in September, the company stated. The acquisition included 10 new assets purchased from Deterra Royalties. Those assets are expected to generate roughly $7 million in annual royalty revenue starting in 2026, Freedom Broker previously noted.

Operating cash flow in the reporting period increased 15.2-fold year over year to $15.2 million. That allowed the company to repay the remaining $6.7 million balance on its credit facility.

The company also raised its guidance for royalty and net precious metal receipts to $32-37 million. In March, it forecast the figure at $28-32 million, which would have represented 70-90% growth versus 2025 levels.

Vox focuses on royalty generation in the mining sector. According to the company’s website, this gives investors exposure to the sector without the risks associated with direct investments in mining companies, since investors receive royalties – a share of revenue – rather than an equity stake. What was once considered an alternative financing structure has now become one of the industry’s mainstream models, Vox states.

The company’s portfolio currently includes more than 70 royalty-generating projects, most of them located in North America and Australia.

Year to date, Vox shares have gained more than 30%, and are up nearly 104% over the last 12 months. The stock has five Wall Street analyst ratings, all of them “buy.” The average target price stands at $6.96 per share, implying nearly 11% upside relative to the Wednesday closing price.