Cameco (NYSE: CCJ), the world's second-largest uranium miner, is attracting significant attention as the nuclear energy market expands again. Over the past five years, its stock surged nearly 750% as the S&P 500 rose less than 80%. The rally was driven by surging uranium prices, which finally recovered from a decade-long slump following the Fukushima disaster of 2011. Cameco's market-crushing gains were impressive, but most investors probably didn't pay too much attention to its paltry forward dividend yi ...

Cameco Corporation (NYSE:CCJ) is one of the stocks that should double by 2030. On January 7, Bernstein raised the price target on Cameco to $101 from $100 and kept an Outperform rating. The firm cited a higher uranium price deck for the price target change. In Q3 2025, Cameco Corporation (NYSE:CCJ) reported increased momentum in the nuclear energy sector. The company highlighted a landmark agreement with the US government to purchase Westinghouse reactors, a move expected to establish Westinghouse as a gl ...

Market Analysis by covering: Oracle Corporation, Cameco Corp, Oklo Inc, Nuscale Power Corp. Read 's Market Analysis on Investing.com ...

Group 1 - The share price of Cameco Corporation (NYSE:CCJ) surged by 9.68% between January 22 and January 29, 2026, making it one of the top-performing energy stocks for that week [1] - Cameco hit an all-time high on January 28, 2026, driven by a rapid increase in uranium prices, which are currently over $101 per pound, the highest since February 2024, due to expectations of long-term high demand [2] - The uranium sector gained attention following the Trump administration's plans to increase nuclear energy capacity and reduce regulations for new nuclear power plants, along with funding for local uranium suppliers to enhance energy security and decrease reliance on Russian imports [3] Group 2 - Over the past year, Cameco's share price has increased nearly 166%, indicating strong performance in the market [4] - While Cameco shows potential as an investment, there are suggestions that certain AI stocks may offer greater upside potential with less downside risk [4]

Group 1: Company Overview - Cameco is closely linked to the nuclear power industry as a supplier, primarily involved in mining and processing uranium, and has recently acquired half of Westinghouse, which provides services to the nuclear sector [2] - The company operates in a volatile uranium market, where prices fluctuate based on supply and demand dynamics, although it uses long-term contracts to stabilize cash flows [4] Group 2: Market Demand and Supply Dynamics - There is currently high demand for nuclear power driven by increasing electricity needs from technologies like artificial intelligence and electric vehicles, which has generated investor interest in the uranium sector [5] - Cameco anticipates a supply-demand gap by 2030, which could widen over time, potentially leading to significant increases in uranium prices if demand trends continue [7] Group 3: Stock Performance and Valuation - Over the past five years, Cameco's stock price has surged by more than 800%, with current price-to-sales and price-to-book ratios indicating that the stock may be overvalued compared to historical averages [8]

Core Insights - Energy Fuels Inc. and Cameco Corporation are positioned to benefit from the strengthening global nuclear energy supply chain, with uranium futures reaching $89 per pound, a 31.7% year-over-year increase, marking the highest level in nearly 20 months [2]. Group 1: Energy Fuels Inc. - Energy Fuels has been the leading U.S. producer of natural uranium concentrate, accounting for roughly two-thirds of domestic production since 2017, with its White Mesa Mill being the only fully licensed conventional uranium processing facility in the U.S. [4]. - In 2025, Energy Fuels' Pinyon Plain Mine and La Sal Complex produced over 1.6 million pounds of uranium, exceeding guidance by approximately 11%, with current operations running at an annualized rate of about 2 million pounds [5]. - The company has secured two uranium supply contracts with U.S. nuclear utilities for deliveries from 2027 through 2032, expecting to sell 780,000–880,000 pounds of uranium under long-term contracts in 2026 [6]. - Energy Fuels is diversifying into rare earth elements (REEs), expecting to commence commercial-scale production of heavy rare earths this year, and plans to expand REE processing capacity significantly [7][8]. - The feasibility study for the Vara Mada project in Madagascar confirms strong project economics and an initial mine life of 38 years, with a planned capital cost of $410 million [8]. Group 2: Cameco Corporation - Cameco accounts for around 16% of global uranium output and operates across the entire nuclear fuel cycle, holding significant stakes in major mines like McArthur River and Cigar Lake [9][10]. - Cameco revised its 2025 production outlook due to development delays, projecting a share of production from McArthur River at 9.8-10.5 million pounds [11]. - The company expects to offset production shortfalls with strong performance from Cigar Lake and is working to extend its mine life to 2036 [12]. - Cameco has entered a strategic partnership with the U.S. government to accelerate nuclear reactor technology deployment, backed by an investment of at least $80 billion [13]. Group 3: Financial Estimates and Performance - The Zacks Consensus Estimate for Energy Fuels indicates a revenue drop of 28.3% in 2026, with expected losses narrowing to 34 cents per share in 2025 [14]. - In contrast, Cameco's 2025 revenue is expected to grow by 4%, with earnings projected to surge by 100% to 98 cents per share [16]. - Year-to-date, Energy Fuels stock has appreciated 358.5%, outperforming Cameco's 159.2% gain, but Energy Fuels trades at a significantly higher forward price-to-sales multiple of 58.11X compared to Cameco's 21.95X [19][20]. Group 4: Conclusion - Both companies are well-positioned to benefit from favorable long-term trends in uranium demand, with Energy Fuels standing out for its strategic importance to U.S. uranium supply and diversification into REEs [21]. - However, Energy Fuels faces expected losses and a significantly expensive valuation, while Cameco offers stronger earnings visibility and a more reasonable valuation [24]. - Cameco appears better positioned for investors seeking exposure to uranium with a more balanced risk-reward profile, supported by its Zacks Rank 1 (Strong Buy) compared to Energy Fuels' Zacks Rank 3 (Hold) [25].

Group 1: Market Overview - Global equity markets showed strong performance in Q4 2025, supported by easing inflation and positive economic data [1] - The Hardman Johnston Global Equity Strategy achieved a return of 2.91%, while the MSCI AC World Net Index gained 3.29% [1] - The Financials and Consumer Staples sectors contributed positively to the strategy's performance, whereas the Industrials and Consumer Discretionary sectors detracted from it [1] Group 2: Cameco Corporation Highlights - Cameco Corporation (NYSE:CCJ) was identified as a new holding in the Hardman Johnston Global Equity Strategy [2][3] - The stock of Cameco Corporation experienced a one-month return of 37.69% and a 52-week gain of 151.59%, closing at $125.97 per share with a market capitalization of $55.005 billion on January 27, 2026 [2] - The company is a leading player in uranium production and has a 49% stake in Westinghouse, enhancing its position in the nuclear sector [3] Group 3: Strategic Insights on Cameco Corporation - The shift in uranium sourcing away from Russia post-Ukraine invasion positions Cameco favorably to benefit from this structural change [3] - The global resurgence in nuclear development, driven by AI's energy demands and the low carbon benefits of nuclear power, is expected to enhance Cameco's earnings potential [3] - A significant agreement between Westinghouse and the U.S. Department of Commerce aims to support $80 billion in new nuclear reactor construction by 2030, which is anticipated to materially increase Cameco's earnings power [3]

Core Insights - Utilities are fundamentally changing their approach to nuclear power, indicating a long-term commitment to this carbon-free energy source [1] - Uranium prices have reached a 17-year high of $86 per pound, but actual market demand reflects prices around $100 to $115 per pound due to 70% of current contracts being market-related [1] - There is strong sovereign demand for uranium, with India being a notable example, which is a leading indicator for a robust contracting environment [1] Uranium Market Dynamics - Utilities are prioritizing security of supply over spot exposure, accepting higher incentive prices and longer contract durations [1] - The electricity demands from generative AI and data centers are further increasing the need for uranium [1] - The U.S. government is stimulating the uranium supply chain by partnering with Brookfield and Cameco to support the deployment of Westinghouse AP1000 reactors, targeting at least $80 billion in new reactors across the U.S. [1] Investment Opportunities - The structural shift in the nuclear sector is captured by the Range Nuclear Renaissance ETF (NUKZ), which tracks the VettaFi Nuclear Renaissance Index, providing exposure to Cameco and other companies involved in the nuclear renaissance [1] - Financial advisors are encouraged to stay informed on the nuclear sector for potential investment opportunities [1]

Group 1 - Cameco Corporation (NYSE:CCJ) is recognized as a strong investment opportunity in the AI energy sector, particularly due to its focus on uranium and copper amid tightening supply-demand dynamics [2][3]. - Raymond James has raised its price target for Cameco from C$150 to C$165, maintaining an 'Outperform' rating, citing structural appeal in the copper and uranium markets [2]. - Bernstein has also increased its price target for Cameco from $100 to $101, attributing this to the tightening supply of uranium and rising term prices, with expectations of prices remaining above $85 per pound through 2029 [3][4]. Group 2 - The company is well-positioned to benefit from market trends and growing policy support for nuclear energy, with expectations of reactor restarts and utility contracting enhancing its growth narrative [4]. - Cameco focuses on uranium exploration, mining, milling, and fuel services, providing low-cost, large-scale uranium production and comprehensive nuclear fuel solutions to global utilities [5].

Company Overview - Cameco is one of the largest global providers of uranium fuel, with a controlling stake in the world's largest high-grade uranium reserves and low production costs of less than $46 per pound by 2025, compared to a current spot price of over $85 per pound [4][6] - The company owns a 49% stake in Westinghouse Electric Company and Global Laser Enrichment, enhancing its position in the nuclear energy sector [5] Financial Performance - Cameco's revenue is divided into three segments, with uranium mining contributing $1.3 billion in the first nine months of 2025, while refining and enriching uranium added $279 million [6] - The company generates approximately $2.2 billion in annual revenue, with a profit margin that has increased from 8% to 23% year-to-date [7][10] - Despite a market valuation exceeding $50 billion, Cameco earned less than $378 million over the last 12 months, resulting in a trailing price-to-earnings ratio of 134 [9] Competitive Position - Cameco is one of the few profitable companies in the nuclear power industry, contrasting with competitors like Uranium Energy and Energy Fuels, which report no profits [8][9] - The company's free cash flow is notable, nearly doubling its reported net income to $698 million, leading to a price-to-free-cash-flow ratio of 72 [10] Growth Potential - Analysts predict that Cameco will achieve the highest growth rate in the industry over the next five years, estimating a 75% annual growth rate [10] - The Westinghouse division is expected to benefit from an $80 billion investment in large nuclear power plants in the U.S., which could further enhance Cameco's profitability [12][13] - Achieving the aggressive earnings growth target of 75% could justify the current valuation, even with a price-to-free-cash-flow ratio of 72 [14]