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DENVER - Energy Fuels Inc. (NYSE American:UUUU) (TSX:EFR), a $344 million market cap rare earth materials producer with a robust gross profit margin of 100% and stable beta of 0.39, announced Tuesday that its high-purity neodymium-praseodymium (NdPr) oxide has been qualified for use in rare earth permanent magnets for electric vehicle motors. According to InvestingPro data, the company maintains a GOOD financial health score, suggesting strong operational fundamentals.
The company’s NdPr oxide, mined from monazite concentrates in Florida and Georgia and processed at its White Mesa Mill in Utah, was successfully manufactured into commercial-scale permanent magnets by South Korea’s largest manufacturer of drive unit motor cores. The magnets passed all quality assurance benchmarks required for use in EV and hybrid vehicle drive units. With last twelve months revenue of $52.89 million and a P/E ratio of 20.68, Energy Fuels demonstrates solid commercial potential in the rare earth market. For deeper insights into Energy Fuels’ growth metrics and 6 additional key ProTips, visit InvestingPro.
According to the company’s press release, the magnets produced from Energy Fuels’ materials are expected to be installed in vehicles from major automotive manufacturers across North America, Europe, Japan, and Korea within the next few months.
The 1.2 metric tonnes of NdPr oxide supplied by Energy Fuels earlier this year was processed into approximately 3.0 metric tonnes of permanent magnets, enough to power approximately 1,500 new electric and hybrid vehicles.
"Commercial validation of our rare earth oxides at scale is a significant triumph for Energy Fuels, proving we have the capacity and expertise to produce rare earth materials that meet both commercial and defense requirements," said Mark S. Chalmers, CEO of Energy Fuels, in the company statement.
The White Mesa Mill is currently the only facility in North America licensed and capable of producing high-purity rare earth oxides from monazite. The company also stated it plans to construct capacity for producing "heavy" rare earth oxides at the facility in 2026.
The development represents a step toward establishing a rare earth supply chain outside of China, which currently dominates global production of these critical minerals used in electric vehicles and other high-tech applications.
In other recent news, Energy Fuels Inc. has reported several notable developments. The company successfully produced its first kilogram of dysprosium oxide at its White Mesa Mill in Utah, achieving a purity of 99.9%. Energy Fuels plans to continue this production at a rate of approximately two kilograms per week until reaching a total of about 15 kilograms, after which it aims to produce high-purity terbium oxide by the fourth quarter of 2025. Additionally, the company mined 638,700 pounds of uranium from its Pinyon Plain mine in Arizona during the second quarter of 2025, with uranium grades averaging 2.23% for the quarter.
Energy Fuels has also commenced pilot-scale production of heavy rare earth element oxides, specifically dysprosium oxide, at a minimum purity of 99.5%. This pilot production is expected to continue until September 2025. In leadership news, Ross R. Bhappu has been appointed as the new president of Energy Fuels, effective August 4, 2025, as part of the company’s long-term succession planning. Mark S. Chalmers will remain as CEO and director. These developments are part of Energy Fuels’ ongoing strategic initiatives.
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