Why Cameco Could Be One of the Biggest Winners in America's Nuclear Renaissance

Core Viewpoint - A renewed interest in nuclear energy presents significant growth opportunities for Cameco, a leading uranium miner, which has seen a 60% stock increase this year and is well-positioned for future gains [1][6]. Group 1: Company Overview - Cameco is the second-largest uranium producer globally, operating in a $10 billion industry and producing 17% of the world's uranium [1][3]. - The company has a 49% ownership stake in Westinghouse, which manufactures advanced nuclear reactors, enhancing its position in the nuclear fuel cycle [2][5]. Group 2: Production and Financial Performance - Cameco's Q3 2025 results showed a 15% revenue drop to $441.7 million compared to Q3 2024, attributed to production difficulties [7]. - Despite the recent quarterly setback, long-term growth trends remain positive, with revenue for the first nine months of 2025 up 17% and EBITDA up 33% year-over-year [8][9]. Group 3: Market Position and Government Support - The U.S. government announced an $80 billion investment in new Westinghouse AP1000 reactors, which is expected to bolster Cameco's market position in supplying uranium [10][12]. - The U.S. has banned Russian uranium imports and faces challenges in sourcing from Kazakhstan, making Canada, where Cameco operates, a strategic partner for uranium supply [12][13]. Group 4: Future Outlook - The U.S. aims to quadruple its nuclear output by mid-century, indicating a strong demand for uranium and new reactors, which aligns with Cameco's growth strategy [14]. - Canadian uranium exports benefit from lower tariffs, further enhancing Cameco's competitive edge in the U.S. market [15].