Energy Fuels (UUUU) Sheds 8.5% on Profit-Taking After 3-Month High

We precocious published 10 Big Names Stumbling Hard. Energy Fuels Inc. (NYSEAmerican:UUUU) was 1 of the worst performers connected Monday.

Energy Fuels dropped its stock prices by 8.51 percent connected Monday to adjacent astatine $23.33 apiece arsenic investors resorted to profit-taking aft soaring to a three-month precocious and astir hitting its 52-week record.

During the session, Energy Fuels Inc. (NYSEAmerican:UUUU) notably rallied by 5.7 percent to arsenic precocious arsenic $26.96—or conscionable $0.37 shy of its highest 52-week terms of $27.33 connected October 15, but aboriginal mislaid its momentum to decorativeness the league successful the reddish arsenic investors took the accidental to pouch gains.

In different news, Energy Fuels Inc. (NYSEAmerican:UUUU) past week acquired Australian Strategic Materials Ltd., (ASM) a starring shaper of REE metals and alloys, for $299 million, arsenic it aims to make what it believes volition beryllium the “largest, afloat integrated REE mine-to-metal and alloy producer” extracurricular of China to span proviso spread for magnet applications, including automotive, robotic, energy, and defence technologies.

“We spot an accidental to present an expanded suite of REE products by combining US uncommon world oxide accumulation astatine our White Mesa processing installation successful the US with downstream metallic and alloy manufacturing capableness astatine ASM’s Korean Metals Plant, 1 of the lone producing REE metals and alloys facilities extracurricular of China. ASM’s proven skills and intelligence spot volition besides let america to grow REE metallic and alloy capableness successful the US,” said Energy Fuels Inc. (NYSEAmerican:UUUU) CEO Mark Chalmers, adding that the institution would summation entree to the Australian firm’s Dubbo Project, a tract designed to nutrient captious minerals specified arsenic uncommon earths, zirconium, niobium, and hafnium, among others.

While we admit the imaginable of UUUU arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.