NEW YORK, January 3, 2026, 10:32 ET — Market closed
- Energy Fuels climbed about 15% on Friday as uranium miners rallied on the first trading day of 2026.
- Sector peers also jumped, with traders pointing to renewed focus on uranium supply and project news.
- Investors head into next week watching U.S. jobs and inflation data, plus the next wave of company results.
Energy Fuels Inc shares ended Friday up 14.9% at $16.68, after swinging between $14.72 and $17.07, with about 14.9 million shares changing hands.
The move tracked a broader surge in uranium producers at the start of the year. Denison Mines jumped after it said it was ready to launch its flagship Phoenix ISR project — ISR, or in-situ recovery, is a mining method that dissolves uranium underground and pumps it to the surface for processing. 1
Energy Fuels has been on investors’ screens since late December, when the company said it beat its 2025 guidance for finished uranium production and uranium sales and added two new long-term uranium sales contracts with U.S. nuclear power generators. The company also outlined plans to keep milling uranium in early 2026 before shifting later in the year toward commercial-scale production of certain heavy rare earths at its White Mesa Mill, and it detailed expected 2026 deliveries under long-term contracts. 2
Other listed uranium names rose sharply on Friday. Denison Mines’ U.S.-listed shares gained 13.2%, Uranium Energy climbed 12.2% and Cameco rose 7.7%.
Flows and sentiment around the commodity remain in focus. Sprott Physical Uranium Trust — an exchange-traded vehicle that holds uranium in the form of U3O8 (uranium oxide concentrate, often called “yellowcake”) — reported holdings of about 74.9 million pounds as of Jan. 2. 3
For Energy Fuels, traders are weighing how quickly the company can convert production into contracted sales and margins, and how its rare-earth ambitions at White Mesa could reshape the story beyond uranium.
The stock’s sharp swings also reflect a market that is still searching for a fresh catalyst after year-end positioning. “The market is looking for direction,” said Matthew Maley, chief market strategist at Miller Tabak, as investors head into a week that includes the Jan. 9 U.S. employment report and the Jan. 13 consumer price index. 4
Before next session, traders will be watching whether the rally can hold above Friday’s $14.72 low and whether the shares can challenge the $17.07 intraday high that capped the move.
The next scheduled company test is earnings. Nasdaq’s earnings calendar currently flags a late-February report date estimate for Energy Fuels, with investors likely to focus on updated uranium delivery expectations, cost trends and any timeline detail on rare-earth processing scale-up. 5
In the uranium space, attention is also likely to stay on permitting and construction timelines at peers, after Denison’s Phoenix project update helped lift the group.
