Energy Fuels Inc. (UUUU) Soars 9.44% on China's Rare Earth Export Curbs

Energy Fuels Inc. (UUUU) surged 9.44% on Thursday, marking a four-day winning streak with a cumulative gain of 19.25%. The stock hit an intraday high of 13.94% and reached its highest level since October 2025, reflecting renewed investor confidence in the uranium and rare earth producer's strategic positioning amid shifting global supply dynamics.

The rally follows China's tightened export controls on rare earth materials, which have intensified demand for U.S. domestic producers. New licensing requirements for exports containing rare earths, effective October 1, 2025, disrupted global supply chains for critical minerals used in semiconductors, aerospace, and electric vehicles. Energy Fuels, operating the White Mesa Mill in Utah, has emerged as a key player in addressing U.S. supply gaps, aligning with broader policy efforts to reduce reliance on foreign sources. The company's recent production of 99.9% pure dysprosium oxide and plans for terbium output further solidify its role in critical mineral security.

A $700 million convertible notes offering, announced October 1, 2025, provided Energy Fuels with critical liquidity to fund operations and expansion. The oversubscribed deal, maturing in 2031, bolstered cash reserves to over $645 million, offering flexibility amid an annual burn rate of $115 million. While the offering introduced potential dilution risks, the company mitigated concerns by purchasing capped calls, capping conversion prices and reinforcing investor confidence. This financial strength, coupled with operational milestones, has positioned Energy Fuels as a scalable player in the U.S. critical minerals sector.

Analyst upgrades and market sentiment have also supported the stock's ascent. B. Riley and Roth Capital recently raised their outlooks, citing improved efficiency and demand forecasts. Energy Fuels' resilience during broader market volatility, including a 6% gain on July 15, 2025, underscored its appeal as a dual-focused uranium and rare earth producer. However, risks remain, including operational bottlenecks at its single processing facility and macroeconomic headwinds. Investors are advised to monitor the company's ability to scale production and navigate evolving market conditions while maintaining alignment with U.S. supply chain resilience goals.