Shares of three micro-cap companies with projects in Greenland have skyrocketed. Trump drove up their prices.

The stock prices of three U.S. micro-cap companies with projects in Greenland soared by 30–150% in the first few minutes of premarket trading on September 21. This happened after U.S. President Donald Trump announced that he had reached an agreement with Denmark on “permanent security oversight” in Greenland. He had previously stated that he wanted to annex the territory to the United States.

Shares of three companies with projects in Greenland surged during morning trading on September 21 after U.S. President Donald Trump announced an agreement with Denmark on the social media platform Truth Social on Friday.

Under these agreements, the United States will help ensure Greenland’s security, “prevent adversaries from establishing military bases there” or making major investments without U.S. approval, and will also expand its military presence there, Trump said.

The full terms of the agreement have not yet been published; it is expected to be signed during the UN General Assembly, which will open on September 22 in New York.

Investors likely expect that an expanded U.S. presence could bring greater political support, infrastructure investments, and financing opportunities to Greenland’s resource sector, notes the Seeking Alpha portal. The article emphasizes that no actual agreements involving specific companies or projects have been announced.

— Shares of Greenland Energy, an energy company engaged in oil and gas exploration in the Jameson Land basin in Greenland, soared nearly 164% to nearly $3.2. Greenland stopped issuing new exploration licenses back in 2021 due to environmental concerns, but left previously issued licenses in effect, notes the Seeking Alpha portal. Greenland Energy happens to hold such a license. The company’s project is still in its early stages; it first needs to discover commercial oil reserves and then obtain a drilling permit, so the surge in share prices is driven more by speculative interest than by actual news about the company’s operations, writes Seeking Alpha. Only one Wall Street analyst is covering this small-cap stock; he recommends buying the company’s shares, with a price target of $6 implying 400% upside potential relative to the most recent closing price.

— Shares of gold miner Greenland Mines surged 86% to $5.3. The company owns the Skaergaard project in Greenland, which contains reserves of gold, palladium, and platinum. It recently acquired a deposit of rare earth elements, which are used in the production of permanent magnets for electric vehicles, wind turbines, and military equipment. Greenland Mines shares also have a single “buy” rating from a Wall Street analyst.

— Shares of Critical Metals, the owner of another project in Greenland—the Tanbreez rare earth elements mine—rose 30% to $8.75. The company describes this project as one of the world’s largest known deposits of heavy rare earth elements. The company has a 15-year agreement with the U.S.-based REalloys to supply rare earth concentrate. The U.S. Export-Import Bank is considering granting Critical Metals a 15-year, $120 million loan to develop Tanbreez—to counter China’s dominance in the industry. Investors may view the pending agreement between the U.S. and Denmark as a factor that reduces geopolitical uncertainty surrounding Tanbreez and improves the prospects of receiving assistance from the U.S. government, writes Seeking Alpha. Two Wall Street analysts recommend buying Critical Metals shares, while one recommends holding. The average price target is $15.33, which is 2.3 times higher than the stock’s most recent closing price.

Trump first expressed interest in gaining control over Greenland for national security reasons in 2018 and revisited the idea in January 2026.

The U.S. president and his team considered “a whole range of options” for annexing Greenland, including “the use of U.S. armed forces,” Caroline Levitt, who served as White House press secretary at the time, told CNBC.

Trump himself later stated that the U.S. “neither needs nor wants” to use military force to gain control of the Danish territory of Greenland, but called for the resumption of negotiations on the U.S. “purchase” of Greenland.

The new agreement recognizes Denmark's "sovereignty and territorial integrity," and under its terms, Greenland will remain part of Denmark, said Danish Prime Minister Mette Frederiksen, commenting on the latest agreements.