Why Critical Metals Stock Is Rocketing Higher Today
Key Points
The U.S. announced a new security agreement with Greenland and Denmark.
Critical Metals is developing the Tanbreez project in Greenland.
The company expects the first ore production at Tanbreez in late 2028 or early 2029.
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It's been a rocky 2026 for Critical Metals (NASDAQ: CRML) stock. As of this past Friday, shares of the rare-earth stock had plummeted about 20% over the previous six months. Today, however, shares are paring back some of the loss thanks to the United States and Greenland announcing a security agreement.
As of 11:11 a.m. ET, shares of Critical Metals are up 39.5%.
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There's a new warming of relations in Greenland
Before the weekend, President Trump announced a security agreement among the United States, Denmark, and Greenland that will allow the U.S. to expand its military presence in Greenland. In contrast, adversaries of the U.S. will not be permitted to develop military bases.
Reuters reported that Trump wrote in a Truth Social post, "At my direction, we worked with representatives of Denmark and Greenland to guarantee that the United States will FOREVER have the complete ability to do what is necessary in Greenland in order to secure and defend the security of Greenland, and the United States of America."
Critical Metals is developing the Tanbreez Rare Earth Project in Greenland. According to the company, Tanbreez is one of the world's largest rare-earth deposits. Unlike many rare-earth deposits, Tanbreez has a high concentration of heavy rare-earth elements -- elements that are in especially high demand due to their usage in defense systems, advanced magnets, and precision electronics.
Exciting news doesn't make a stock a screaming buy
With Greenland's security coming into focus, it's unsurprising that Critical Metals shares are ripping higher today. Those with Critical Metals on their radars should hit the pause button before rushing to pick up shares, though. The company doesn't expect to commence ore production until late 2028 or early 2029, so investors must recognize that an investment requires patience. For those looking for rare-earth exposure with less risk, a rare-earth exchange-traded fund may be a better option.
Should you buy stock in Critical Metals right now?
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Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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