Energy Fuels Stock Surges To 3-Month High On Deal To Build Biggest Rare-Earth Player Outside China

The critical metals company is buying Australian Strategic Materials in a deal that values the firm at nearly $300 million.

• Energy Fuels stock jumped over 7% on Tuesday following the deal announcement, but gave up some of those gains in the after-market session.
• Energy Fuels, which operates the only fully licensed conventional uranium mill in the U.S., has been expanding into rare-earth elements (REEs).
• President Donald Trump has highlighted nuclear energy as a critical focus area for the country.

Energy Fuels, Inc. shares jumped 7.2% on Tuesday to a fresh three-month high, after it announced the acquisition of Australian Strategic Materials, a leading producer of rare earth metals and alloys.

The company believes the deal would create be the largest, fully integrated rare earth elements (REE) "mine-to-metal & alloy" producer outside of China, essential for closing the critical strategic gap in global supply chains for magnet applications, including automotive, robotic, energy, and defense technologies.

The transaction implies an equity value of A$447 million (about $299 million) for ASM.

Energy Fuels is among the hottest stocks in the market right now, amid recent moves such as the company’s expansion into REE. The Lakewood, Colorado-based company primarily produces uranium for nuclear power – mainly at its White Mesa Mill in Utah, the only fully licensed conventional uranium mill in the U.S. – and has been ramping up production of late.

Investor interest in the stock has grown amid the Donald Trump administration’s position in favour of nuclear power, which it sees as critical for meeting the surging U.S. electricity demand and reducing reliance on Russian uranium.

Energy Fuels beat its own uranium production forecast for the last year, and raised sales expectations, according to quarterly results released in December. Shares have continued their incredible gains into the new year, rising 62% already in January alone. UUUU gained 183.4% over the last year.

Retail’s View

“This is a great strategic acquisition for Energy fuels… many green days ahead,” a Stocktwits user posted. The retail sentiment for the ticker held in the ‘bullish’ zone early Wednesday, unchanged from the previous day.

The stock has pulled in a massive following among retail investors, with watchers jumping 62% on Stocktwits over the past year. 

UUUU-ASM Deal: The Fine Print

Under the deal, ASM shareholders will receive A$1.60 per share and will end up owning about 5.8% of Energy Fuels. The companies expect shareholder votes in mid-2026 and aim to close the deal by late June 2026, assuming approvals are granted. 

The combined firm would have a presence in the U.S., South Korea and Australia.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<