New York, Jan 28, 2026, 13:31 EST — Regular session
Energy Fuels Inc (UUUU) jumped 10.7% Wednesday after Roth MKM lifted its rating to neutral from sell. The uranium and rare-earths miner was trading at $26.74 on the NYSE American by early afternoon, with roughly 12.8 million shares changing hands. Analyst Joe Reagor cited better “near-term catalysts and sentiment” behind the move, boosting the price target to $15.50, Benzinga reported. 1
Uranium prices jumped again, sparking renewed risk appetite in the sector. The uranium spot price — key for near-term deliveries in a market mostly driven by private contracts — climbed to $91.10 a pound on Wednesday. This followed the Sprott Physical Uranium Trust’s purchase of 500,000 pounds of uranium oxide this week. Helen Amos, an analyst at BMO Capital Markets, noted that “the impact that financial purchasing can have on prices” was clear. 2
Energy Fuels revealed details of its planned takeover of Australian Strategic Materials in a Jan. 26 Form 8-K filing, a key U.S. disclosure for material events. The deal terms include an exchange ratio of 0.053 Energy Fuels shares for each ASM share, along with a potential special dividend of up to A$0.13. The filing values the transaction at roughly A$447 million and anticipates closing around June 2026, pending shareholder and regulatory approvals. 3
Last week’s announcement, covered by Reuters, revealed a plan to link ASM’s operating South Korean metalisation plant and a new U.S. metals facility with Energy Fuels’ rare-earth production at Utah’s White Mesa Mill. ASM CEO Rowena Smith told Reuters the fast pace of supply-chain development involves “multiple parties who are working together.”
Roth’s price target reflects where the stock is expected to trade over the next 12 months. Despite the recent increase, it remains significantly below Energy Fuels’ current price, highlighting just how far the stock has already climbed.
Most uranium stocks climbed during the session. Cameco jumped 3.6%, Uranium Energy added roughly 2.0%, but MP Materials, known for rare-earths, edged down 0.5%.
Traders tracking Energy Fuels are focused on uranium developments and any changes that impact the ASM timeline. Fresh long-term sales contracts, known as offtakes, along with adjustments in spending plans, tend to shake up the stock fast.
But the setup works both ways. A drop in uranium prices or hold-ups in deal approvals could stall the rally as quickly as it gained momentum.
Energy Fuels is set to release its results around Feb. 25, per Zacks. Investors will be watching for updates on cash, uranium sales, and whether there’s any shift in the timeline for closing the ASM deal. 4
