Energy Fuels Inc. (UUUU) stock surged 5.47% in pre-market trading on Friday, following positive analyst coverage and growing optimism around the company's strategic positioning in the uranium and rare earth production markets.

On Thursday, HC Wainwright & Co. maintained its "Buy" rating on Energy Fuels, highlighting the company's progress in resuming commercial uranium production and securing world-class critical mineral assets, including rare earth elements.

Additionally, Roth MKM upgraded Energy Fuels to a "Buy" rating and set a price target of $5.75, citing the company's diversified asset portfolio and strong balance sheet. The analysts noted that Energy Fuels is well-positioned to benefit from the growing demand for critical minerals essential for energy, defense, and technology applications.

During the company's Q4 2024 earnings call, Energy Fuels provided guidance for uranium production of 1.73 to 1.17 million pounds in 2025, with additional capacity from alternate feed materials. The company also aims to increase its rare earth production capacity to 6,000 tons of NDPR (Neodymium-Praseodymium) per year by 2028, leveraging its acquisition of world-class heavy mineral sands projects in Madagascar, Australia, and Brazil.