Energy Fuels Soars on Nuclear Energy Push and Rare Earth Refining
Energy Secretary Chris Wright has called for an increase in nuclear energy, benefiting Energy Fuels, the leading U.S.-based uranium producer. The company has seen a remarkable 229% gain this year, with its shares trading at 16 times next year's revenue estimates and 140 times 2026 adjusted non-GAAP earnings per share estimates.
The Trump administration is in discussions to acquire a minority stake in lithium miner Lithium Americas, aiming to boost domestic lithium production and reduce dependence on China. This focus on strategic investments in miners of critical materials has positively impacted Energy Fuels' shares, which rallied by 12.7% this week. Notably, Energy Fuels owns the White Mesa mill, the only U.S. refiner capable of processing certain rare earth elements.
Energy Fuels, with its leading position in uranium production and unique refining capabilities, has experienced significant growth this year. The Trump administration's focus on nuclear energy and domestic mining of critical materials has further boosted the company's shares.
