Stock Market Today, April 27: Critical Metals Jumps After Agreeing to Acquire European Lithium in $835 Million Share Deal
Critical Metals (NASDAQ:CRML), an explorer and developer of critical minerals for advanced technologies, closed Monday at $14.45, up 25.54%. The stock moved higher after news that it agreed to acquire European Lithium in an $835 million share deal. Investors are watching how the ownership change -- and new cash resources -- will shape the Tanbreez rare-earth project. Trading volume reached 44.9 million shares, about 255% above its three-month average of 12.6 million shares.
How the markets moved today
The S&P 500 added 0.12% to finish Monday at 7,174, while the Nasdaq Composite rose 0.20% to 24,887. Within other industrial metals & mining names, MP Materials closed at $64.92 (+6.90%) and USA Rare Earth ended at $23.51 (+7.55%), highlighting strength across rare earth-focused peers.
What this means for investors
Just ten days after Critical Metals received approval from the Greenland government to grow its stake in the Tanbreez rare-earth deposit to 92.5%, the company signed a letter of intent to acquire European Lithium -- which owned the other 7.5% -- for $835 million in stock. The deal will not only give Critical Metals full ownership of the project but also bring in $200 million in cash from European Lithium, accelerating the development timeline.
Considering the U.S. and the European Union just signed an agreement to cooperate on building their own supply of critical minerals to reduce their reliance on China (which supplies 80% of the world’s rare-earth minerals), the deal is certainly worth monitoring.
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Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool recommends MP Materials. The Motley Fool has a disclosure policy.
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