3 Rare Earth Stocks To Own In October 2026

Energy prices remain a key worry for the IMF, which warns that persistent fuel costs are squeezing growth and inflation alike. That pressure keeps clean energy and efficiency in the spotlight, and rare earth metals sit right in that cross current. If you believe the scramble to secure critical minerals still has room to run, this article walks through three rare earth metal stocks from our screener that may be worth a closer look.

The three rare earth metal stocks highlighted below are just a sample, and the full Simply Wall St screen surfaced 3 more miners with equally compelling narratives that are not covered in this article. If you want to identify potential leaders in this critical minerals theme, head straight to the Rare Earth Metal Stocks screener to filter opportunities, analyze fundamentals, and focus on your highest conviction ideas.

Critical Metals (CRML)

Critical Metals focuses on early stage lithium and rare earth element exploration, with its Tanbreez Project in southern Greenland giving investors direct exposure to heavy and light REE deposits. The business generated about $2 million from mineral exploration and is valued at roughly $1.1b.

Critical Metals puts rare earth security front and center through Tanbreez in Greenland, with approvals already in place for a long life mining and closure plan covering 19 critical elements. For investors tracking clean energy and defense supply chains, one unresolved pressure on future REE pricing could be significant.

That pressure on REE pricing makes the DCF valuation analysis for Critical Metals a useful next step to see how market expectations line up with that risk.

MP Materials (MP)

MP Materials gives this rare earth metals theme direct exposure to a fully integrated Western supply chain, from ore in California to finished NdFeB magnets for EVs and defense, with about $286 million from its Materials segment, $79 million from Magnetics, and a roughly $8.6b market value.

For investors who care where critical minerals are actually produced and processed, MP Materials is a rare example of a Western player trying to close the loop from mine to magnet. The next phase of its build out is where the story starts to get interesting.

"The Fort Worth magnet facility is scaling to 10,000 metric tons (MT) of finished magnets annually by 2028-2030. The new HREE circuit commissioning in mid-2026 targets 200 MT/year of Dysprosium (Dy) and Terbium (Tb)."

What happens to MP Materials’ profitability if a single unseen pressure on its rare earth pricing and downstream volumes breaks in the right direction?

If that pressure really breaks your way, the full narrative for MP Materials shows how MP Materials’ build out could accelerate or stall as pricing and volumes decouple.

USA Rare Earth (USAR)

USA Rare Earth pushes directly into the rare earth metals race through its Round Top Mountain project in Texas and its hydrometallurgical facility in Colorado, giving investors exposure to mining and processing that feed EV motors, defense magnets, semiconductors, and other high tech uses. The business is valued at about $3.4b.

USA Rare Earth ties the theme together for investors who care about a full mine to magnet chain inside the US, from heavy rare earth feedstock to finished materials aimed at EVs, defense and advanced computing, and the next update from Washington could matter more than any quarterly print.

"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 economics if one key policy and funding assumption around that domestic build out shifts in either direction.

If that pivot starts to shift, the full narrative for USA Rare Earth outlines how USA Rare Earth’s policy exposure, capital needs, and valuation risk could either accelerate or stall.

Seeking Fresh 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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