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Is Vox Royalty (VOXR) an Undervalued Stock?

Ace River Capital, an investment management company, released its first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund delivered -10.4% compared to a 10.8% and 5.2% return for the S&P 500 (SPX) and the Russell 2000 (RTY) respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.

Ace River Capital featured stocks like Vox Royalty Corp. (NASDAQ:VOXR) in its Q1 2024 investor letter. Headquartered in Toronto, Canada, Vox Royalty Corp. (NASDAQ:VOXR) is a mining royalty and streaming company. On April 19, 2024, Vox Royalty Corp. (NASDAQ:VOXR) stock closed at $2.01 per share. One-month return of Vox Royalty Corp. (NASDAQ:VOXR) was -2.91%, and its shares lost 35.41% of their value over the last 52 weeks. Vox Royalty Corp. (NASDAQ:VOXR) has a market capitalization of $100.197 million.

Ace River Capital stated the following regarding Vox Royalty Corp. (NASDAQ:VOXR) in its first quarter 2024 investor letter:

"Vox Royalty Corp. (NASDAQ:VOXR) looks to be undervalued by comparison with most other mining royalty companies. I believe this to be a good entry point. The recent run up of gold prices this year should result in increased royalty revenue for Vox. I have increased this position and will likely continue to increase at these levels until it becomes the second largest position in the fund. Vox looks to be a great value with little downside. It has a capital light business model, a large backlog of projects in varying stages of development to ensure revenue growth over time and will benefit from any rise in metals prices from inflation, demand, or uncertainty."

A closeup image of a miner holding a pile of gold nuggets, a representation of the company's royalty.

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Vox Royalty Corp. (NASDAQ:VOXR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Vox Royalty Corp. (NASDAQ:VOXR) was held by 5 hedge fund portfolios, down from 5 in the previous quarter, according to our database. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.