New York, Jan 26, 2026, 05:23 (EST) — Premarket
Energy Fuels Inc shares climbed roughly 4.3% in U.S. premarket Monday, hitting $25.50, up from last Friday’s close of $24.46.
The bid arrives as traders jump back into U.S.-linked rare earth supply chain stocks, where policy news tends to drive sharp moves before fundamentals kick in.
Rare earth elements, a set of 17 minerals, play a crucial role in products ranging from smartphones to powerful magnets in electric vehicles and certain defense technologies. The market reacts swiftly to any hint of direct federal funding.
Reuters says the Trump administration is acquiring a 10% stake in USA Rare Earth as part of a $1.6 billion debt-and-equity deal designed to fund a domestic mine and magnet plant, according to two sources familiar with the arrangement. The report adds that this package, alongside a separate $1 billion private investment, is expected to be announced Monday, with an investor call scheduled for the morning. Reuters
USA Rare Earth and MP Materials climbed in early trading, highlighting a wider surge in U.S.-listed rare-earth stocks before the market opened.
Energy Fuels, primarily recognized for uranium production, has been steering itself more firmly in that direction. Investors view the firm as a possible “picks and shovels” play if funding ramps up for non-China processing and magnet manufacturing capacity.
Last week, a Reuters report revealed Energy Fuels struck a deal to acquire Australia’s Australian Strategic Materials, valuing ASM’s equity at A$447 million ($300.9 million). The merger will link ASM’s operational Korean metalisation plant and its planned U.S. metals facility with Energy Fuels’ rare earth oxide output at the White Mesa Mill in Utah. ASM CEO Rowena Smith told Reuters the “rapid establishment” of a supply chain would require coordination among “multiple parties.” Reuters
Still, the tape can flip quickly. Small-cap critical-minerals stocks often overreact to policy noise, and takeover schedules rarely stay on track — even if the strategic rationale holds firm.
Energy Fuels investors will be keeping an eye on whether Monday’s U.S. rare-earth funding headlines stick as the market opens, and if the sector’s momentum extends beyond just a few names.
Energy Fuels CEO Mark Chalmers said the ASM deal is part of the company’s push to become “the largest fully integrated producer of REE materials outside of China.” ASM is targeting a scheme meeting in late May or early June 2026, with the plan expected to go through by late June, pending shareholder, court, and regulatory approvals. investors.energyfuels.com
