Energy Fuels (UUUU) Jumps to Fresh High on China Rare Earth Exports Curb

We recently published 10 Big Names With Whopping Gains; 6 Jump All-Time Highs. Energy Fuels Inc. (NYSEAmerican:UUUU) is one of the best performers on Thursday.

Energy Fuels extended its winning streak to a 4th day on Thursday to climb to a new all-time high, as investors loaded portfolios in rare earths stocks after China announced a new policy tightening the minerals’ exports.

In intra-day trading, Energy Fuels Inc. (NYSEAmerican:UUUU) jumped to its highest 52-week price of $20.51 before trimming gains to end the day just up by 9.44 percent at $19.70 apiece.

On Thursday, China’s Ministry of Commerce introduced new measures requiring foreign entities to obtain licenses for products with rare earth content of at least 0.1 of the goods’ value, as well as for exports using extraction, refining, or magnet recycling technology.

With the minerals deemed critical in the production of various industries, such as semiconductors, automotive, and aerospace, among others, China’s curbs, on the other hand, spelled good news for US rare earths producers, namely Energy Fuels Inc. (NYSEAmerican:UUUU), MP Materials, USA Rare Earth, Ramaco Resources, and Lithium Americas, among others.

The announcement further lifted optimism for the local producers, having already earned the support of President Donald Trump after the government’s equity investments in Lithium Americas and MP Materials, with the aim of boosting the country’s rare earth production.

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Disclosure: None. This article is originally published at Insider Monkey.