The “Hidden Material” That Could be the Next Bottleneck

The last decade has been an obsessive race to acquire Lithium as early EV dominance was defined by range anxiety and energy density, which are primarily determined by the lithium-based cathode. However, that’s opened the door to a whole new crisis, and that’s the demand for graphite. An average EV battery contains 10 to 15 times more graphite than lithium. As the popular and jaded industry saying goes: “No graphite, no anode. No anode, no battery.” 

This is where a company, such as Westwater Resources (NYSE: WWR) steps in to bridge the gap for American energy dependence. While several companies are vying for this market, Westwater remains a standout in our analysis of the top 3 graphite stocks to watch this year.

The U.S. was focused on anti-pollution laws and the green energy agenda which left the door open for the Chinese to grab control over 90% of the global anode material supply. However, rapidfire U.S. government policy changes, means it’s a totally different ball game now and WWR may play front and center.

The Business Model: End-to-End Control

WWR has attracted significant attention thus far in early 2026 because of its vertically integrated model, which it calls its “winning card.” Unlike competitors who only mine or only process, Westwater controls the entire chain:

This structure allows WWR to eliminate middleman costs and, crucially, guarantee American automakers raw materials that have “never been touched by Chinese hands”, which is a key requirement for new tax incentives.

Financial Outlook: The SK On Contract

The company’s financial future is anchored by a binding five-year offtake agreement with SK On, one of the world’s largest battery manufacturers.

Risk Analysis: The Dangers of “Pre-Revenue” Status

Despite the bullish outlook, WWR currently sits in the “Pre-Revenue” stage (pre-income). As noted in recent reports, this creates constant pressure on cash reserves.

Specific Risks for Investors:

WWR Stock Price Forecast

Current Status (Jan 2026): ~ $0.90 – $1.00 range 
12-Month Price Forecast:$2.00 – $2.50 (Bull Case)

Jacob Bakshi, a senior derivatives and broker strategy specialist at CleaRank,  explained the bullish driver for WWR:

“The stock is currently trading at a depressed valuation typical of the “Pre-Revenue” anxiety phase. Investment uncertainty is at peak levels, so we look at the statistical probability of these fears materializing. We see that the market is already pricing in a high risk of failure and that’s likely to be significantly mitigated in the near future.”

Jacob is basing risk reduction on a near term approval of a $150 million EXIM Bank loan, which would diffuse the liquidity crisis instantly. This “de-risking” event typically causes a sharp repricing in mining stocks.

Jacob further explained why $2.5+ is feasible in 2026 for WWR stock price:

“You need to consider the revenue multiple once commercial production kicks off in 2026. If we consider $300M+ in contracted revenue from SK, and the 2x-3x forward sales multiplier which is standard for high-growth critical minerals, then we’re looking at a much greater market cap.” 

If that’s not convincing enough, there is further upside to consider as the Coosa deposit also contains Vanadium, a critical metal for energy storage batteries. We believe it’s not priced in today,  so this represents an “additional option” for future income streams. 

Right now, focus remains on the EXIM loan and an exit from the “Pre-revenue” danger zone. It’s high risk/reward investment, but the U.S. needs companies like Westwater Resources to succeed now more than ever. Therefore we see this as a calculated long term buy with massive upside potential. 

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Disclaimer & Investment Disclosure

This article is for informational purposes only and does not constitute financial, investment, or legal advice. Westwater Resources (WWR) is currently a “pre-revenue” company, which involves a high degree of risk, including the potential loss of principal. Price targets and forecasts are based on CleaRank analyst projections as of January 2026 and are subject to change based on market conditions, regulatory approvals, and company execution. CleaRank and its contributors do not hold any financial interest or positions in the securities mentioned at the time of publication. Always consult with a licensed financial advisor before making investment decisions.