Top 3 Rare Earth Stocks To Watch In October 2026

Oil prices recently climbed above US$106 as Iran threatened more tanker attacks in the Strait of Hormuz, putting secure access to critical materials back in the spotlight. When energy routes look vulnerable, supply chains for rare earth minerals can quickly feel the strain, which concentrates attention on miners that already produce these metals. This article highlights three rare earth metal stocks from our screener that give you direct exposure to this theme.

The three rare earth metal stocks below are a sample of what came up, and the full screen surfaced 3 more companies with equally compelling rare earth narratives that are not covered in this article. To identify and analyze those extra rare earth players alongside the stocks discussed here, head straight into the Rare Earth Metal Stocks screener.

Critical Metals (CRML)

Critical Metals focuses on mining exploration and development across Germany, Austria, and Greenland, with its flagship Tanbreez Project in southern Greenland targeting rare earth elements and lithium. The business currently generates about US$1.9 million from mineral exploration and carries a market value near US$961 million.

Critical Metals plugs directly into the rare earth theme because Tanbreez is permitted in Greenland to mine a mix of heavy rare earths and magnet metals that are key for electric vehicles, defense systems, and advanced electronics. Tanbreez is still pre revenue and the miner remains unprofitable, so future value hinges on how one unresolved funding and execution pressure plays out.

That funding overhang is exactly why the DCF valuation analysis for Critical Metals can be useful for judging how much future cash generation would need to accelerate in order to justify today’s valuation.

MP Materials (MP)

MP Materials is a rare earth specialist that runs the Mountain Pass mine in California and a growing magnet manufacturing arm, tying US production of neodymium based materials directly into electric vehicles, defense hardware, and other high tech motors. The Materials segment generates about US$286 million of revenue, with around US$79 million from Magnetics, and the stock carries a market value near US$7.6 billion.

For investors focused on rare earth security, MP Materials offers something few others can match: a single business linking US ore, processing, and finished magnets into one mine to magnet chain.

"The company is expanding its vertically integrated processing and magnet manufacturing capacity with the "10X" plant and a modular recycling facility. Together with significant CapEx support from Apple and the DoD, this strategy is intended to capture more value-added margins and potentially improve net profit and operating leverage as they ramp downstream operations."

The real swing factor is how one concentrated source of demand ultimately shapes pricing power and profitability across that entire chain.

That pricing power story is exactly what the full narrative for MP Materials unpacks, showing how demand concentration could either compress returns or ignite accelerating earnings strength.

USA Rare Earth (USAR)

USA Rare Earth is building a mine to magnet rare earth chain around its Round Top Mountain project and processing work in Colorado, aiming to supply REE oxides into electric vehicles, wind turbines, defense hardware, and high tech manufacturing, with the stock valued around US$4.2b.

USA Rare Earth matters for this rare earth metals theme because it is trying to knit together hard rock resources, processing capacity, and magnet production into a Western supply line that does not depend on overseas refineries. That effort is starting to attract meaningful policy support, which sets up the following development.

"The award comes through the DOE’s Critical Materials Innovation, Efficiency and Alternatives program and is aimed at advancing a pilot-scale rare earth element (REE) separations project within the United States.

What happens to USA Rare Earth’s long term margins and funding costs depends heavily on how one unresolved policy linked catalyst plays out.

Against that policy backdrop, the full narrative for USA Rare Earth shows how USA Rare Earth’s DOE backed pilot could accelerate funding, reshape risk, and potentially decouple future returns from commodity swings.

Seeking Alternatives Beyond Rare Earths

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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