TSX rare earth stocks span a small but active group of eight producers, developers and technology companies, from an integrated magnet-alloy producer with record quarterly earnings to early-stage explorers still defining a resource. Ranking TSX rare earth stocks requires separating senior TSX-board names from TSX Venture Exchange listings first, since the two carry materially different risk profiles, then ordering within each tier by production and development stage.
How We Ranked the Top 8 TSX Rare Earth Stocks
This list of TSX rare earth stocks is ranked by listing tier first: senior TSX-board companies ahead of TSX Venture Exchange (TSXV) names. Within each tier, companies are ordered by production and development stage, from active producers through to early-stage exploration. Data reflects company disclosures, investor relations materials and news filings as of July 2026.
Senior TSX-Listed Companies
1. Neo Performance Materials (TSX: NEO) — Canada
Neo Performance Materials is the most diversified of the TSX rare earth stocks, operating across three segments: Magnequench (bonded and sintered magnetic powders), Chemicals & Oxides, and Rare Metals. The company posted a record Q1 2026, with revenue up 27% year on year to roughly $155 million and earnings per share beating consensus by 84%. Neo commissioned new heavy rare earth (HREE) solvent extraction capacity in April 2026 and signed a recycling memorandum of understanding with Cyclic Materials in March 2026, extending its feedstock base beyond primary mining. See Neo Performance Materials investor relations for full quarterly disclosures.
2. Energy Fuels (TSX: EFR / NYSE: UUUU) — United States
Energy Fuels processes rare earth concentrate at its White Mesa Mill in Utah and achieved first US primary terbium oxide production in March 2026 at 99.9% purity, alongside a roughly 30kg dysprosium oxide pilot run. The company secured a conditional US$725 million, 20-year government loan in June 2026 and announced a definitive agreement to acquire Australian Strategic Materials (ASX: ASM) the same month. The ASM deal remains subject to ASM shareholder approval and has not closed. Full profile: Energy Fuels: White Mesa Mill.
3. Aclara Resources (TSX: ARA) — Brazil / Chile
Aclara Resources develops ionic clay heavy rare earth deposits at the Carina Project in Goias, Brazil, and the Penco Module in Biobio, Chile. The company announced its SPREC (Super Pure Rare Earth Carbonate) process in June 2026 and secured a US$20 million-plus Louisiana tax exemption toward a planned US separation facility. FactSet placed Aclara’s implied enterprise value at approximately $668 million as of June 2026. Aclara does not yet have a dedicated profile on this site.
TSX Venture Exchange (TSXV) Companies
4. Mkango Resources (AIM/TSXV: MKA) — Malawi / Poland
Mkango Resources holds the Songwe Hill deposit in Malawi, with an updated definitive feasibility study completed in March 2026, and the Pulawy separation project in Poland, both designated strategic projects under the EU Critical Raw Materials Act. Its HyProMag recycling operations in the UK, Germany and US already generate revenue through Maginito, in which Mkango holds a 79.4% stake. A proposed SPAC merger with Crown PropTech Acquisitions to list as Mkango Rare Earths Limited on Nasdaq has an outside date extended to 30 September 2026, with close targeted in Q3 2026; the deal has not closed. Implied pro forma enterprise value for the merged entity is approximately $488 million. Full profile: Mkango Resources: Songwe Hill & HyProMag.
5. Ucore Rare Metals (TSXV: UCU) — Canada / United States
Ucore Rare Metals is commercialising its RapidSX separation technology at the Louisiana Strategic Metals Complex in Alexandria, backed by US$22.4 million in total US Department of Defense funding through the Army Contracting Command-Orlando. A May 2026 engineering report pushed first commercial production from “Machine A” to a targeted H1 2027, revised from earlier H2 2026 guidance. Ucore holds supply agreements with ABx Group, Meteoric Resources and Cyclic Materials. Full profile: Ucore Rare Metals: RapidSX.
6. Defense Metals (TSXV: DEFN) — Canada
Defense Metals is advancing the Wicheeda Rare Earth Element Project near Prince George, British Columbia, from a completed 2025 preliminary feasibility study toward a full feasibility study. A 6,865-metre spring drill program began 1 May 2026, and the company holds conditional approval for C$1.88 million from the Critical Minerals Infrastructure Fund toward transmission line infrastructure. Full profile: Defense Metals: Wicheeda Project.
7. Geomega Resources (TSXV: GMA) — Canada
Geomega Resources operates an NdFeB magnet recycling demonstration plant in Saint-Hubert, Quebec, having obtained an environmental permit on 3 June 2026 valid through December 2028. Construction is substantially complete and the plant is moving into commissioning. Separately, Geomega holds a joint development agreement with Rio Tinto for bauxite-residue valorisation, currently at the preliminary feasibility study stage. Full profile: Geomega Resources: REE Recycling.
8. Searchlight Resources (TSXV: SCLT) — Canada
Searchlight Resources is the earliest-stage name among these TSX rare earth stocks, holding the Bear Lake and Kulyk Lake rare earth projects in Saskatchewan under a prospect-generator model. A January 2026 airborne radiometric survey identified new thorium anomalies at Bear Lake, roughly 30km from Uranium City, and historical surface samples at Kulyk Lake have reported up to 50% total rare earth oxide. Searchlight does not yet have a dedicated profile on this site.
| Company | Exchange | Key Asset | Stage |
|---|---|---|---|
| Neo Performance Materials | TSX: NEO | Magnequench, Chemicals & Oxides, Rare Metals | Producer |
| Energy Fuels | TSX: EFR / NYSE: UUUU | White Mesa Mill | Producer |
| Aclara Resources | TSX: ARA | Carina, Penco Module | Developer |
| Mkango Resources | AIM/TSXV: MKA | Songwe Hill, Pulawy, HyProMag | Developer / recycling revenue |
| Ucore Rare Metals | TSXV: UCU | Louisiana Strategic Metals Complex | Developer |
| Defense Metals | TSXV: DEFN | Wicheeda Project | Developer (PFS complete) |
| Geomega Resources | TSXV: GMA | Saint-Hubert recycling plant | Commissioning |
| Searchlight Resources | TSXV: SCLT | Bear Lake, Kulyk Lake | Exploration |
The Outlook for TSX Rare Earth Stocks
The near-term picture for TSX rare earth stocks is shaped by two pending corporate actions: Energy Fuels’ proposed acquisition of Australian Strategic Materials, still subject to shareholder approval, and Mkango Resources’ SPAC merger toward a Nasdaq listing, targeted for Q3 2026 close. Both would materially change the ownership and listing structure of the companies involved if completed. Among the TSXV names, Ucore’s revised H1 2027 production timeline for its RapidSX technology is the clearest recent example of how execution schedules continue to shift even where funding is secured.
Government-backed financing, seen in Energy Fuels’ conditional US loan and Defense Metals’ infrastructure fund approval, is becoming a more consistent feature across TSX rare earth stocks than in prior years, reflecting broader Western supply chain policy. For related exchange coverage, see Canada Rare Earth Companies: Top 10 Ranked and the Canada rare earth mining overview. Price context for the elements these companies produce is available on the neodymium price and praseodymium price pages. Data from the USGS Rare Earths Statistics programme provides broader production context for North American supply.
This article is for informational purposes only and does not constitute investment advice. Company data is subject to change without notice.
What are the main TSX rare earth stocks?
TSX rare earth stocks span both the senior TSX board and the TSX Venture Exchange, ranging from integrated producers with existing revenue to early-stage exploration companies. This article ranks eight, split by listing tier and development stage.
What is the difference between TSX and TSXV rare earth stocks?
The senior TSX board generally lists more established, revenue-generating companies, while the TSX Venture Exchange (TSXV) hosts earlier-stage developers and explorers. Both operate under Canadian securities regulation, but TSXV names typically carry higher execution and financing risk.
Are any TSX rare earth stocks already producing?
Some of the companies on this list are established producers or processors with existing revenue streams, while others remain in development or early exploration. Production status for each company is detailed in its individual entry above.
Do TSX rare earth stocks include US or international operations?
Several TSX-listed rare earth companies operate projects or facilities outside Canada, including in the United States, Malawi, Poland, Brazil and Chile. A TSX listing reflects where a company raises capital and trades, not necessarily where its assets are located.
What drives the ranking of TSX rare earth stocks over time?
Rankings shift with listing changes, corporate actions such as mergers or acquisitions, financing milestones, and progress from exploration through to production. Companies pursuing cross-border listings or SPAC mergers can change tier entirely if a deal completes.
