TLDR
- US Energy Secretary Chris Wright announced plans to boost the national strategic uranium stockpile, driving uranium stock rallies
- Energy Fuels Inc (UUUU) hit all-time highs, rising 15.84% and reaching $14.12 per share
- Cameco Corporation (CCJ) and Uranium Energy Corp (UEC) received Buy ratings from Goldman Sachs
- Energy Fuels advanced its rare earth business with successful production of rare earth permanent magnets for EV motors
- Uranium stocks are benefiting from government support for domestic uranium production and nuclear energy expansion
Energy Fuels Inc hit an all-time high of $14.12 per share on Monday after US Energy Secretary Chris Wright outlined plans to expand the national strategic uranium stockpile. The stock closed up 15.84% at $13.82, breaking a three-day losing streak.
Wright told Bloomberg that the US hopes to see rapid growth in uranium consumption from both large reactors and small modular reactors. He emphasized the need for domestic uranium and enrichment capacity as part of national energy security efforts.
The announcement triggered a sector-wide rally in uranium stocks. Nuclear stocks surged approximately 10% compared to the S&P 500’s 0.47% gain following the government’s uranium expansion plans.
Goldman Sachs initiated coverage of both Cameco Corporation and Uranium Energy Corp with Buy ratings on Tuesday. The investment bank cited positive sentiment toward nuclear growth under the current administration.
Energy Fuels Inc Performance
Energy Fuels, the largest domestic uranium producer in the US, extended earlier gains by 9% as investors responded to the government backing. The company has seen a 160% year-to-date share price surge.
The stock snapped a three-day losing streak on Monday to reach its record high. During the session, Energy Fuels soared to $14.12 before trimming gains to close at $13.82.
Energy Fuels has diversified beyond uranium production into rare earth elements and critical minerals. The company recently achieved a breakthrough in rare earth permanent magnet production.
High-purity neodymium-praseodymium oxide produced at Energy Fuels’ White Mesa Mill in Utah was successfully manufactured into commercial-scale magnets. South Korea’s largest manufacturer of drive unit motor cores completed the production process.
The rare earth magnets passed all quality assurance benchmarks for use in electric vehicle drive unit motors. Major automotive manufacturers have approved the magnets for their EV production lines.
This success marks a decisive step in building a mine-to-magnet supply chain independent of China. The process uses rare earth oxides produced entirely in the United States.
Cameco Corporation Gains
Cameco Corporation rose 7% following Wright’s Vienna interview comments about uranium stockpile expansion. The company received a Buy rating from Goldman Sachs as part of the bank’s uranium sector coverage initiation.
Goldman pointed to Cameco’s contracting for uranium hexafluoride as a potential catalyst. The bank suggested this could drive optimism for a restart of the Springfields facility in the United Kingdom.
Cameco Corporation reported strong second-quarter 2025 results that exceeded analyst expectations. The company achieved earnings per share of $0.71, more than double the forecasted $0.35, with revenue reaching $877 million.
The investment bank also noted three small modular reactor agreements for deployment in the UK. These agreements form part of broader US-UK technology and energy deals announced ahead of recent diplomatic visits.
Energy Secretary Wright’s comments at the International Atomic Energy Agency’s annual conference reinforced support for domestic uranium capacity expansion.
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