Centrus Energy Corp. (NYSE: LEU) shares soared 12.4% in a single trading session, closing at $191.39 on notably elevated trading volume well above typical session levels.
The rally was driven by news that Centrus signed a Letter of Intent to supply high-assay low-enriched uranium, known as HALEU, to nuclear power company Oklo Inc. (NYSE: OKLO).
The multi-year agreement outlines uranium deliveries slated to begin in 2029, with the fuel designated to power up to five of Oklo’s Aurora powerhouses.
Centrus will source the HALEU from its American Centrifuge Plant located in Pike County, Ohio, a facility central to the company’s domestic uranium enrichment strategy.
The partnership is directly tied to Oklo’s planned 1.2 GW power campus in the region, marking a significant step in the buildout of next-generation nuclear energy infrastructure across the United States.
Prior to the session’s dramatic jump, LEU shares had posted a comparatively modest 0.6% gain over the preceding four weeks, making the single-day move all the more striking.
Looking ahead, Centrus is expected to report quarterly earnings of $0.90 per share, reflecting a year-over-year decline of 43.4% against the comparable prior-year period.
Revenue for the upcoming quarter is forecast at $143.92 million, representing a 6.9% decrease from the same quarter a year ago, signaling near-term financial headwinds despite the positive deal news.
On a more encouraging note, the consensus earnings per share estimate for the quarter has been revised 2% higher over the past 30 days, a trend that analysts typically associate with price appreciation in the near term.
The stock currently carries a Zacks Rank of 3, categorized as a Hold, suggesting the market sees the current valuation as broadly balanced given existing fundamentals.
Within the same Zacks Mining — Non Ferrous industry classification, Southern Copper Corporation (NYSE: SCCO) closed its last trading session 0.7% higher at $192.93, adding to a 10.1% return over the past month.
Southern Copper’s consensus EPS estimate for its upcoming earnings report has edged down 0.3% over the past month to $1.85, though that figure still represents a substantial year-over-year improvement of 51.6% compared to its prior-year EPS.
Southern Copper also holds a Zacks Rank of 3, placing it in the same Hold category as Centrus as both companies navigate shifting commodity and energy market dynamics.
For Centrus, the key question investors face is whether the Oklo supply agreement represents a durable catalyst capable of sustaining the stock’s momentum beyond the initial reaction.
