Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. This segment also produces CANDU reactor fuel bundles and other reactor components. The company offers nuclear fuel processing services. The Westinghouse segment engages in the manufacture of nuclear reactor technology original equipment. This segment provides products and services to commercial utilities and government agencies; and outage and maintenance services, engineering support, instrumentation and controls equipment, plant modification, and components and parts to nuclear reactors. It sells its uranium and fuel services to nuclear utilities in the Americas, Europe, and Asia. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada.

Cameco Corporation демонстрирует смешанную фундаментальную картину. С одной стороны, компания имеет низкое соотношение долга к капиталу (0.15), что указывает на низкую долговую нагрузку и положительно сказывается на финансовой устойчивости. Однако, мультипликаторы P/E (133.43) и P/S (20.44) значительно выше медианных значений по отрасли, что может указывать на переоцененность акций. Также наблюдается слабая динамика по прибыли: чистая прибыль за последний год равна нулю, что на 100% ниже медианы отрасли. Операционная маржа и валовая маржа также ниже медианных значений, что говорит о недостаточной способности компании генерировать прибыль. Несмотря на это, выручка и активы компании выше медианных значений, что свидетельствует о росте бизнеса. Дивидендная доходность на уровне 0.28% довольно низкая, что также может негативно повлиять на привлекательность акций. В целом, учитывая высокие мультипликаторы, слабую прибыльность и низкие маржи, следует быть осторожным в оценке будущего роста цен на акции компании.

Cameco Corporation

Key Points
NuScale Power is a nuclear power start-up developing small modular nuclear reactors.
Cameco produces nuclear fuel and provides services to the nuclear power industry.
Brookfield Renewable Partners is a clean energy company, but it also provides services to the nuclear power industry.
Electricity demand has ticked higher thanks to new technologies such as artificial intelligence and the widespread adoption of electric vehicles. Add in a shift toward cleaner energy sources, and nuclear power is experiencing a renaissance. Giant technology companies like Meta (NASDAQ: META), Microsoft (NASDAQ: MSFT), and Google are spending heavily to ensure they have access to nuclear power.
You can invest in Nuclear power, too, with stocks like NuScale Power (NYSE: SMR), Cameco (NYSE: CCJ), and, for those that are a little less adventurous, Brookfield Renewable (NYSE: BEP)(NYSE: BEPC). Here's a look at each one.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
NuScale Power is a bet on the future
Shares of NuScale Power have fallen 75% below their 52-week high. In some ways, the stock looks cheap. But given that the company is a start-up, it is also quite risky. NuScale Power has an approved design for a small modular nuclear reactor (SMR), but it hasn't yet finalized its first reactor sale. So, at this point, it is still losing money and will likely continue to do so for a while longer.
That said, SMRs represent a significant opportunity in the nuclear power sector. They are factory-built, which offers the benefits of assembly line construction. They are small and can be transported easily to where they are needed. They include modern safety features, which hints that they will be safer than large, site-built reactors. And they can be linked together to create utility-scale power plants. If SMRs gain traction, NuScale Power could be a long-term growth opportunity.
That said, you need to believe that SMRs will gain traction. And that NuScale Power will be one of the winners, given that it isn't the only company attempting to capitalize on the SMR opportunity. Only more aggressive investors should consider NuScale Power.
Cameco is a picks and shovels play
Historically, Cameco has mined and processed uranium, providing nuclear power plants with the fuel they need to operate. It recently bought a 50% stake in Westinghouse, one of the world's largest service providers in the nuclear power space. It is a pure-play, picks-and-shovels investment in the nuclear power sector. That said, the big driver of the company's performance is going to be uranium prices, which are currently high. The stock is not cheap.
Cameco doesn't appear to be worried, however, because it expects uranium demand to outstrip supply around 2030. If that comes to pass, uranium prices could continue to rise and Cameco's stock could, too. Once again, this is a stock most appropriate for aggressive investors, given its 175% price gain over the past year. If high uranium prices lead to an increase in uranium supply, Cameco's future could be less bright than Wall Street currently expects.
Brookfield Renewable is a way to hedge your bets
If you want some exposure to nuclear power, but aren't ready to jump in with both feet, you should consider Brookfield Renewable. This company owns the other half of Westinghouse. In addition, it owns a globally diversified portfolio of clean energy assets, including hydroelectric, solar, and wind power, as well as energy storage. With one investment, you get exposure to the entire clean energy sector, including nuclear power.
One of the big draws of nuclear power is that it doesn't produce greenhouse gases. Brookfield Renewable plays on that theme, with a nuclear power twist. That's a hedge for investors that aren't ready to go all-in on nuclear power just yet. Meanwhile, Brookfield Renewable pays an attractive dividend. The partnership units yield 4.5%, and the corporate shares yield 3.8%. They represent the same entity and pay the same dividend; there's just more demand for the corporate shares. Most small investors would be just fine with the higher-yielding partnership units.
Three different ways to play the nuclear renaissance
There is no right way to invest in nuclear power; there's just the way that best fits your investment approach. NuScale Power is a start-up that aggressive growth investors might appreciate even though Wall Street is downbeat on the shares. Cameco is a picks-and-shovels play, supplying the industry with what appears to be an increasingly scarce resource. And Brookfield Renewable is a high-yield option that lets you dip your toes into the nuclear waters.
Should you buy stock in NuScale Power right now?
Before you buy stock in NuScale Power, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and NuScale Power wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $492,752!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,327,935!*
Now, it’s worth noting Stock Advisor’s total average return is 991% — a market-crushing outperformance compared to 201% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 28, 2026.
Reuben Gregg Brewer has positions in Brookfield Renewable Partners. The Motley Fool has positions in and recommends Cameco, Meta Platforms, and Microsoft. The Motley Fool recommends Brookfield Renewable, Brookfield Renewable Partners, and NuScale Power. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Nuclear Power Comeback Is Real -- and These 3 Stocks Are the Best Way to Play It

Key Points
Companies and countries alike are looking for more power.
The global nuclear industry is small but growing.
BWX Technologies and Cameco are two stocks worth considering.
Nuclear power has been making headlines in April. From potentially putting nuclear reactors in outer space to Japan opening a new reactor to Eli Lilly potentially collaborating with Indiana on nuclear power projects, the topic is everywhere. As countries and companies look to secure their power needs, they're open to nuclear options.
There are a few different ways to invest in the industry. Two companies worth digging in on are BWX Technologies (NYSE: BWXT) and Cameco (NYSE: CCJ).
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
The nuclear energy market outlook
Before looking at the two stocks, I want to go over the projected market size. Fortune Business has projected that the global nuclear energy market would reach $41.6 billion in 2026, climbing to $52.6 billion by 2034. For another estimate, MarketandMarkets projects it will be a $44.7 billion market by 2029.
That shows that, while the market is expected to expand, it may not be as rapidly as some are anticipating.
Two stocks to look at
The first company to consider is BWX Technologies, which does everything from manufacturing nuclear reactors and components to developing nuclear technology to be used in outer space.
As evidenced by its revenue, the company is seeing increased demand for its services. In 2025, BWX reported full-year revenue of $3.2 billion. It expects that to climb to $3.7 billion for 2026. It also announced on April 20 that it entered into a definitive agreement to acquire Precision Components Group, which BWX says will expand its "heavy-manufacturing footprint and establish additional U.S. commercial nuclear production capacity to serve growing domestic demand."
BWX is valued like a high-growth stock, with a forward price-to-earnings (P/E) ratio of 53, so lots of growth is already priced in. It also pays a dividend, which yields 0.4%.
The second stock to consider is Cameco, which calls itself "one of the largest global providers of uranium fuel" in the world. It does everything from exploration to mining to conversion.
Like BWX, it's seeing demand increase in its respective business. It reported revenue of $3.4 billion in 2025, up from $3.1 billion in 2024. It also reported gross profit increasing from $783 million in 2024 to $970 million in 2025.
This is also not a stock for a value investor, as there are sky-high expectations around the company. Its forward P/E is 120, nearly double what it was at the end of December 2025. It offers a dividend payout that yields roughly 0.1%, making it a company to mainly own for stock price appreciation potential.
Should you buy stock in BWX Technologies right now?
Before you buy stock in BWX Technologies, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and BWX Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $498,522!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,276,807!*
Now, it’s worth noting Stock Advisor’s total average return is 983% — a market-crushing outperformance compared to 200% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 26, 2026.
Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends BWX Technologies and Cameco. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Nuclear Is Back in a Big Way. Here Are 2 Stocks to Consider.

Key Points
Cameco provides services and fuel to nuclear power producers.
Energy demand and energy security are increasingly important.
The geopolitical conflict in the Middle East has led to high oil prices, which is hardly a surprise. However, the situation highlights the importance of power to the normal functioning of the world economy. And it makes a company like Cameco (NYSE: CCJ), which provides fuel and services to nuclear power plants, look a lot more attractive.
Cameco is in the right place at the right time
Cameco has been a public company for a long time. It suffered through the deep uranium market downturn after the Fukushima nuclear meltdown. And it has survived to see the benefits of today's nuclear power renaissance, as electricity demand from data centers, artificial intelligence, and electric vehicles has led to a reconsideration of nuclear power as a clean energy source.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Being a reliable nuclear fuel supplier with operations in economically and politically stable regions has paid off handsomely for the company. The stock is trading near its all-time highs and is up more than 200% over the past year. Over the past five years, the stock is higher by more than 600%. If you owned Cameco, you have made out very well.
Cameco's stock price is lofty
Cameco's business has changed in recent years, including its recent acquisition of a 50% stake in nuclear power service provider Westinghouse. That should help smooth out financial performance, given that uranium is a highly volatile commodity. Still, uranium prices are rising, which helps explain Cameco's massive stock price advance.
The problem is that investors appear to have already priced in much of the good news into Cameco's stock. The company's price-to-sales ratio is 22x, compared with a five-year average of 9x. The price-to-earnings ratio is a massive 131x (there is no five-year average due to losses in that span). And the price-to-book ratio is 10.9x compared to a five-year average of 3.3x. While electricity and nuclear power are both likely to remain important for years to come, it still looks like investors may have become too enthusiastic about Cameco's stock price.
Tread with caution if you buy Cameco
Cameco is a well-run business. There appears to be a looming uranium supply shortage. Uranium prices are high, and nuclear power is likely to be a key source of electricity in the future as electricity demand grows.
But paying too much for a good business can turn it into a bad investment. After such a large price advance, even a small amount of bad news could lead to a steep decline in Cameco's stock price. Given the stock's lofty valuation, investors should probably be worried that the stock will be lower in 12 months than it is today.
Should you buy stock in Cameco right now?
Before you buy stock in Cameco, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cameco wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $498,522!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,276,807!*
Now, it’s worth noting Stock Advisor’s total average return is 983% — a market-crushing outperformance compared to 200% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cameco. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Oil, Geopolitics, and Cameco: Here's Where the Stock Could Be in 12 Months

Key Points
Cameco is the world's second largest uranium miner by production and is present through almost the whole nuclear fuel cycle.
Constellation Energy is America's largest green energy company and its largest nuclear operator.
BWX Technologies is a leading naval nuclear reactor company pushing the limits of nuclear fission technology.
We've had the technology for nuclear power generation since the 1950s but aside from France, every country has continued to favor oil, natural gas, and coal since then. That's changing though.
Around the world, nuclear power is enjoying a renaissance of renewed interest and investment. In the U.S. alone, the Department of Energy has set a goal to triple America's nuclear output by the middle of the century. Big tech companies are working with power companies to resurrect nuclear plants to power data centers.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
As a result of that interest, nuclear stocks have been surging. And these three appear to be some of the best.
From the mine
Up first is Cameco (NYSE: CCJ), one of the world's premier uranium miners. In 2025, it was responsible for 15% of all the uranium produced in the world that year. The only company that produced more was Kazakhstan's state-owned company Kazatomprom.
The company is present through virtually the entirety of the nuclear fuel cycle. It has two high-grade mines in Canada and a third low-grade mine in Kazakhstan. It also has a fuel services division that refines and produces finished uranium fuel rods.
Finally, through a joint venture with Brookfield Asset Management (NYSE: BAM) it has 49% ownership of Westinghouse, an engineering company that produces the AP1000, which is the most advanced nuclear reactor on the market today.
For 2025, Cameco's revenue grew 11% and it maintains both a high net profit margin of 16.9% and a low debt-to-equity ratio of 0.14, which is good to see in an industry as capital intensive as mining.
To the reactor
All the uranium Cameco mines is for reactors around the world, including the 94 in the United States. And the single largest operator of those nuclear reactors is Constellation Energy Corp (NASDAQ: CEG).
Constellation is a pretty straightforward energy company with one key thing that sets it apart. It's both America's largest producer of green energy and its largest producer of nuclear energy. It owns 21 of America's nuclear reactors and it will be adding a new one soon.
The company has partnered with Microsoft (NASDAQ: MSFT) to recomission part of the Three Mile Island nuclear plant as the Crane Clean Energy Center. Once completed (targeted for 2028), Microsoft has a 20-year power purchase agreement with Constellation to buy energy from the plant for its data centers in the area.
As an energy utility, Constellation is fairly stable and slow-growing. For 2025, its revenue was up 8.3% over 2024 and it recorded a net profit margin of 9.1%. It also has a healthy debt-to-equity ratio of 0.61.
It does pay a dividend, which it has increased every year since 2022. But it only yields 0.55% at present. However, with a payout ratio of 20.96%, Constellation has plenty of room to keep growing that dividend into the future.
Speaking of the future, Constellation's nuclear fleet represents the current generation of nuclear technology well, but there are plenty of companies pioneering the frontier of fission technology.
And onto the future
BWX Technologies (NYSE: BWXT) has been a leader in the naval nuclear reactor industry since the 1950s when it designed and produced components for the USS Nautilus, the world's first nuclear submarine. Since then, it has produced over 400 nuclear reactors for the U.S. Navy.
Its history in naval nuclear technology has given BWX a lot of experience making nuclear reactors work on a small scale. And it is bringing that capability to bear with its BWXT Advanced Nuclear Reactor or BANR, which is a small modular reactor (SMR).
SMRs work on the same principles as a conventional nuclear reactor, they're just smaller. BWX's BANR is no different. It's designed to be built in parts in a factory and then shipped out and put together at its final location. Once constructed, it can generate 75 megawatts of power, which makes it a potential solution to the power needs of artificial intelligence (AI) data centers.
And where other SMR companies are start-ups focused solely on developing SMRs, BWX has plenty of revenue from its existing business. For 2025, it brought in revenue of $3.19 billion, up 18% over 2024. Its earnings per share (EPS) grew 20% over the same period. The company also maintains a net profit margin of 10.3%.
If Cameco and Constellation represent the present of nuclear technology, BWX represents the future, the bleeding edge of where nuclear engineering is headed. All three of them are worth a look and I expect the nuclear bull run will continue through the remainder of this year and into the future.
Should you buy stock in Cameco right now?
Before you buy stock in Cameco, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cameco wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $498,522!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,276,807!*
Now, it’s worth noting Stock Advisor’s total average return is 983% — a market-crushing outperformance compared to 200% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 25, 2026.
James Hires has positions in BWX Technologies and Cameco. The Motley Fool has positions in and recommends BWX Technologies, Brookfield Asset Management, Cameco, Constellation Energy, and Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Nuclear Energy Stocks That Are Quietly Becoming the Trades of the Year

Key Points
Cameco is a leading North American uranium miner with high-grade uranium mines in Canada.
The company should benefit as the U.S. decouples from Russian uranium and nuclear energy demand ramps up.
Its 49% ownership stake in Westinghouse Electric gives it exposure across the nuclear value chain.
Investors are zeroing in on energy, and for good reason. Coming into this year, the surge in energy demand, particularly from data centers, shows no signs of slowing. Meanwhile, escalating geopolitical tensions remind us of the fragility of our global energy supply chains.
The recent conflict in Iran has proven this, with disruptions in the Strait of Hormuz impacting up to 9.1 million barrels of oil per day, leading the International Energy Agency (IEA) to call it "the largest disruption in history."
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Energy prices continue to swing rapidly amid uncertainty over the conflict. However, recent market volatility is an opportunity for investors, and one uranium powerhouse I'd buy on any dip is Cameco (NYSE: CCJ). The company has a strong presence in North America and should do well as the U.S. adds more nuclear reactors over the coming decades.
Here's what investors need to know about Cameco's long-term prospects.
Cameco owns high-grade uranium mines in North America
The United States nuclear industry is looking to pivot away from foreign uranium suppliers, notably Russia, which has historically supplied the U.S. with nearly one-quarter of its enriched uranium. This is where Cameco has its opportunity. The company has high-grade assets in the Athabasca Basin in Canada, which hosts some of the world's largest uranium deposits.
The company owns a majority stake in McArthur River and Cigar Lake, two of the world's highest-grade uranium mines in Saskatchewan, which are supported by a network of roads and electricity and by fully permitted and licensed mills. Because the ore is high-grade, Cameco achieves low unit operating costs over the life of its mines, of $20.31 per pound at McArthur River and $21.12 per pound at Cigar Lake.
New nuclear power plants will be a strong tailwind for Cameco
In addition to its high-grade mines, Cameco has a 49% interest in Westinghouse Electric, one of the top nuclear suppliers of equipment and services to almost half of the operating nuclear power plants worldwide.
This gives Cameco exposure across the nuclear value chain, making it more than just a uranium mining company. Through Westinghouse, Cameco has a stake in downstream fuel fabrication, reactor maintenance, and the design and engineering of new reactors. Last year, Cameco's share of Westinghouse's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) surged 61% year over year to $780 million.
Cameco, its co-investor Brookfield Renewable, and Westinghouse Electric have partnered with the U.S. government to build at least $80 billion in new Westinghouse reactors. Westinghouse's AP1000 nuclear reactors are in high demand, as the U.S. aims to have 10 new reactors by 2030. The partnership with the U.S. government should supercharge growth in Westinghouse's energy systems segment and fuel fabrication business for the life of these new reactors.
Cameco is an investment in the nuclear renaissance
Analysts project Cameco's earnings per share will grow to $2.30 by 2028, representing a 29% compound annual growth rate over the next few years.
As the top uranium miner in North America and an investor in Westinghouse Electric, Cameco is well positioned to benefit from the explosive energy demand from data centers and the decoupling from Russian uranium sources, making it a top nuclear energy stock to buy and hold for the long haul.
Should you buy stock in Cameco right now?
Before you buy stock in Cameco, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cameco wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $499,277!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,225,371!*
Now, it’s worth noting Stock Advisor’s total average return is 972% — a market-crushing outperformance compared to 198% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 23, 2026.
Courtney Carlsen has positions in Cameco. The Motley Fool has positions in and recommends Cameco. The Motley Fool recommends Brookfield Renewable. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Cameco: The Uranium Powerhouse I'd Buy on Every Dip and Hold Through Any Energy Shock

Key Points
Nuclear energy is emerging as a popular electricity source for technology giants' growing data centers.
Cameco is the largest uranium supplier in North America, and holds a stake in Westinghouse, which will build nuclear reactors in the coming years.
Oklo is an early-stage company developing advanced nuclear reactors designed for efficient assembly, making nuclear energy easy to deploy.
Nuclear energy is emerging as a key pillar for securing our energy future and powering the next generation of artificial intelligence (AI) data centers. Technology giants like Microsoft, Amazon, Alphabet, and Meta Platforms are making deals with operators in the nuclear sector to feed their insatiable appetite for energy.
As the U.S. government prioritizes the revival of decommissioned nuclear plants and accelerates approvals for cutting-edge nuclear technology, the landscape is shifting dramatically. Two popular nuclear energy stocks at the heart of this are Cameco (NYSE: CCJ) and Oklo (NYSE: OKLO).
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
These companies serve different roles in the nuclear energy renaissance and are at very different stages of their businesses. Here's a look at which one stands out as a better buy right now.
Cameco is riding the nuclear renaissance in multiple ways
Cameco is a uranium miner with high-grade assets in Canada and is the largest uranium supplier in North America today. The company recently signed a long-term agreement with India's Department of Atomic Energy to supply 22 million pounds of uranium concentrate through 2035, valued at about $2.6 billion.
It is also well positioned to benefit from the move to nuclear energy in the coming years. U.S. Energy Secretary Chris Wright said recently that the first five to 10 reactors in the U.S. are "almost certain" to receive Department of Energy loans as part of the push to build the domestic nuclear energy base.
Cameco has a 49% stake in Westinghouse, a leader in nuclear technology that designs, supplies fuel to, and maintains roughly half of the world's nuclear power plants. The company, along with Brookfield Renewable Partners (a 51% stakeholder in Westinghouse), entered into a binding strategic partnership with the U.S. government to build nuclear energy capacity in the U.S.
The deal calls for $80 billion in reactor construction using Westinghouse's technology; in exchange, the government will help with financing, permitting, and diplomatic support in return for a share of Westinghouse's future cash flow.
Oklo's advanced nuclear reactors are being fast-tracked
By contrast, Oklo is an early-stage company developing an advanced nuclear reactor, the Aurora Powerhouse, that can be manufactured off-site using standardized parts. The upshot is that it should be able to construct its reactors faster than traditional nuclear plants and at a lower cost.
The company is going through the Department of Energy's Reactor Pilot Program for its first Aurora Powerhouse, located at the Idaho National Laboratory (INL). This enables Oklo to bypass the traditional (often slower) Nuclear Regulatory Commission's commercial licensing route for its initial testing phase.
The company hopes to deploy its first advanced Aurora reactor at the INL, and it is set to open in late 2027 or early 2028. It also has a 1.2 gigawatt campus in Ohio to support Meta Platforms, which it expects to come on line in 2030.
This nuclear energy stock is a better buy right now
Oklo is an up-and-coming company developing new technology that could change how nuclear energy is deployed. That said, it will continue to spend big, between $350 million and $450 million this year, as it ramps up construction and moves forward with seeking regulatory approvals.
Cameco, on the other hand, is an established North American uranium miner that will certainly benefit from growing demand for nuclear fuel. Not only that, but its stake in Westinghouse Electric provides upside from the country's expansion of its nuclear energy footprint. For those reasons, most investors would be better off buying Cameco stock today.
Should you buy stock in Cameco right now?
Before you buy stock in Cameco, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cameco wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $511,411!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,238,736!*
Now, it’s worth noting Stock Advisor’s total average return is 986% — a market-crushing outperformance compared to 199% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 21, 2026.
Courtney Carlsen has positions in Alphabet, Cameco, and Microsoft. The Motley Fool has positions in and recommends Alphabet, Amazon, Cameco, Meta Platforms, and Microsoft. The Motley Fool recommends Brookfield Renewable. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Nuclear Stock Face-Off: Is Oklo or Cameco the Better Buy Right Now?

Key Points
Brookfield Asset Management owns a controlling stake in Westinghouse.
That stake could boost its profits and dividends over the next decade.
After the Fukushima disaster in 2011, many nuclear energy companies struggled for more than a decade as cautious countries paused their nuclear projects. But over the past few years, the nuclear market has warmed again as power-hungry cloud infrastructure, artificial intelligence (AI), and data center markets have driven more countries to restart those projects. The development of smaller, safer, and more power-efficient reactors is also fueling that boom.
From 2024 to 2050, the International Atomic Energy Agency (IAEA) expects the world's nuclear capacity to expand by up to 2.6 times. To capitalize on that expansion, many growth-oriented investors are flocking toward nuclear "pure plays" -- such as the uranium miner Cameco (NYSE: CCJ) or small modular reactor (SMR) maker NuScale.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
However, those stocks are volatile and don't pay any dividends. If you're looking for a more conservative income play with plenty of exposure to the expanding nuclear market, you should take a closer look at Brookfield Asset Management (NYSE: BAM).
What does Brookfield Asset Management do?
Brookfield Asset Management is one of the world's largest alternative asset management firms. Instead of investing in traditional assets like stocks, bonds, and Treasuries, it provides exposure to "alternative" investments like real estate, infrastructure, private equity, and credit markets. Most of its profits come from its management fees for those portfolios.
In 2023, Brookfield Asset Management teamed up with Cameco to purchase Westinghouse, one of the world's top nuclear energy and technology companies. Brookfield now owns 51% of Westinghouse, while Cameco controls the remaining 49%.
Brookfield Asset Management measures its growth with three key performance metrics: its fee-bearing capital (FBC), its total managed capital from all its clients; its fee-related earnings (FRE), or its total earnings from management and advisory fees; and its distributable earnings (DE), or its available cash flow for covering its dividends and interest payments. All three figures have steadily risen over the past four years, even as inflation, higher interest rates, geopolitical conflicts, and other macro headwinds rattled the global economy.
Metric
2022
2023
2024
2025
FBC
$418 billion
$457 billion
$539 billion
$603 billion
Growth (YOY)
15%
9%
18%
12%
FRE
$2.11 billion
$2.24 billion
$2.46 billion
$2.99 billion
Growth (YOY)
15%
6%
10%
22%
DE
$2.10 billion
$2.24 billion
$2.36 billion
$2.69 billion
Growth (YOY)
11%
7%
5%
14%
Brookfield continued to grow as many institutional investors shifted their assets from conventional to alternative investments to hedge their portfolios against those challenges. Many of its funds also lock in their investors for more than a decade.
Why is Brookfield a nuclear income stock?
Those strengths already make Brookfield Asset Management a stable long-term investment. It also pays a forward yield of 3.7% and has raised its payout each year after it was spun off from Brookfield Corporation in 2022.
But from 2025 to 2030, Brookfield plans to double the size of its business with $1.2 trillion in FBC, $5.8 billion in FRE, and $5.9 billion in DE by the final year. A major catalyst will be its controlling stake in Westinghouse, which entered a strategic partnership with the U.S. government last October to construct at least $80 billion in new reactors to "reinvigorate the nuclear power industrial base" and support the expansion of the AI market.
Therefore, the nuclear market's expansion should directly boost Brookfield's DE over the next few decades, giving it ample room for future dividend hikes. So if you're looking for a simple way to profit from the resurgent nuclear market that generates stable income, Brookfield Asset Management checks all the right boxes.
Should you buy stock in Brookfield Asset Management right now?
Before you buy stock in Brookfield Asset Management, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Brookfield Asset Management wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $524,786!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,236,406!*
Now, it’s worth noting Stock Advisor’s total average return is 994% — a market-crushing outperformance compared to 199% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 20, 2026.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Brookfield Asset Management, Brookfield Corporation, and Cameco. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

1 Nuclear Stock That Could Power Your Retirement Income for Decades

Key Points
Geopolitical events are creating opportunities in the U.S. LNG and nuclear sectors.
Growth in these sectors is supported by rising demand from AI data centers.
Demand is also being spurred by ongoing energy security concerns.
The current administration's determination to pursue a policy of energy dominance while engaging in conflicts that directly affect regions of the world competing with the U.S. for energy is creating opportunities for North American companies.
Two of the key energy industries likely to benefit are liquefied natural gas (LNG) and nuclear energy. That's why the Global X U.S. Natural Gas ETF (NYSEMKT: LNGX), gas technology company Baker Hughes (NASDAQ: BKR), and nuclear fuel and services provider Cameco (NYSE: CCJ) are good stocks to consider in the current environment.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
1. The Global X U.S. Natural Gas ETF
This ETF provides broad-based exposure to the U.S. natural gas industry, from upstream producers to midstream activities (transportation, processing, and storage) to export. A quick look at the four largest LNG exporters in 2024 shows the importance of Qatar and Russia to global LNG provision. Russia is being frozen out of exporting to the EU (the world's largest LNG importer) due to the conflict in Ukraine.
Meanwhile, Qatar's LNG normally ships through the blockaded Strait of Hormuz, and even if the Strait should reopen, QatarEnergy estimates it could take three to five years to repair the damage to its infrastructure fully.
Country
LNG Exports (mtpa)
U.S.
88.4 mtpa
Australia
81 mtpa
Qatar
77.2 mtpa
Russia
33.5 mtpa
As such, the combination of burgeoning demand for power for AI data centers and the opportunity to export LNG globally supports the U.S. natural gas industry. You could try to pick winners in the industry, or avoid stock-specific risk and gain exposure through the 33 holdings currently in this ETF, which include leading U.S. energy companies like Devon Energy, Diamondback Energy, and Cheniere Energy. The expense ratio is a respectable 0.45%, and the ETF currently yields 1.7%.
2. Baker Hughes
Continuing the theme of investing in natural gas, Baker Hughes is a company changing how investors view it. The company used to be seen as an oilfield services company, but it's now increasingly seen as an industrial energy technology company. While its oilfield services and equipment (OFSE) segment remains a major part of the company, its growth engine is its industrial and energy technology (IET) segment.
Many of the LNG companies in the ETF are already customers of Baker Hughes gas technology equipment (compressors, turbines, and other technology essential to the liquefaction process, in which natural gas is transported and converted to LNG). In addition, the forthcoming acquisition of Chart Industries will only increase its exposure to gas.
The deal is complementary and will add Chart's static solutions (heat exchangers, small-scale compression, and cryogenic equipment) to Baker Hughes' rotating equipment. It will also increase the company's exposure to the industrial gas sector.
3. Cameco
The consequences of the closure of the Strait of Hormuz and the inevitable reconsideration of the risks to the energy supply chain posed by relying on fossil fuels (crude oil and LNG) flowing through it increase the appeal of nuclear energy as a solution to energy provision.
Additionally, demand for nuclear technology is rising as utilities and hyperscalers seek carbon-free energy sources to power AI data centers and support strained electricity grids.
Russia is a major provider of uranium, and Cameco has an opportunity to fill the gap created by utilities no longer buying uranium from the country. In addition, the burgeoning investment by hyperscalers in nuclear reactors under long-term contracts supports long-term demand, as does the growing willingness of governments to permit nuclear projects.
For example, four more countries (Belgium, Brazil, China, and Italy) joined the declaration to triple nuclear power capacity by 2050 at the recent Paris summit. These actions, combined with recent events, have raised the profile of nuclear energy, and Cameco's uranium nuclear fuels and services expertise means it's ideally placed to benefit.
Should you buy stock in Cameco right now?
Before you buy stock in Cameco, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cameco wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $524,786!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,236,406!*
Now, it’s worth noting Stock Advisor’s total average return is 994% — a market-crushing outperformance compared to 199% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 20, 2026.
Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cameco and Cheniere Energy. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

As Trump Pushes for "Energy Dominance," 3 Core Energy Holdings Stand Out for Patient Investors

Key Points
Demand for clean energy is driving the nuclear industry's growing output.
Artificial intelligence (AI) data center demand is also a contributing factor.
This is expected to be a banner year for nuclear energy -- as well as a huge opportunity for investors to capitalize on the changing global energy mix. Fifteen new reactors are expected to go online this year, and another 50 from 2027 through 2030.
There are over 75 nuclear reactors under construction around the world, according to the World Nuclear Association. Another 120 are in planning stages. Twenty-five of the proposed reactors are in the United States.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
In September 2025, the International Atomic Energy Agency raised its nuclear power expansion projections for the fourth year in a row. The IAEA now estimates that global nuclear capacity will more than double by 2050 (from the 2024 level). And small modular reactors will play a "pivotal role."
Several factors, including the desire for clean energy sources and the growing energy needs of artificial intelligence (AI) data centers, are driving the expansion of nuclear energy. Pro-nuclear policy from the Trump administration is also a facilitator.
So, it's increasingly clear that nuclear energy is on the rise, and 2026 is a critical year. For investors, there are several ways to profit from the trend.
Several nuclear companies look attractive right now
The first is a nuclear power provider, and the biggest one in the U.S. -- by a long shot -- is Constellation Energy (NASDAQ: CEG), a Baltimore-based power utility. The company generates power through hydro, wind, natural gas, and solar facilities, but its biggest source is nuclear, which accounts for about 86% of its output. It currently operates 21 nuclear reactors at 16 facilities (there are 54 total commercial nuclear plants in the U.S. at present).
In late 2024, Constellation signed a 20-year deal with Microsoft to supply power to the tech giant's data centers from the nuclear plant formerly known as Three Mile Island. More such deals for large data centers could be forthcoming and bode well for Constellation shareholders.
Constellation's share price is up 36% over the past year, but shares slumped recently due to disappointing earnings guidance as well as news that the Three Mile Island restart could be delayed. Growing power demand from the AI industry says this stock is worth a look, however.
GE Vernova (NYSE: GEV) is a big player in the broader power generation industry. Importantly, its GE Hitachi unit provides the small modular reactors expected to revolutionize the nuclear industry, as they can be assembled in a factory and speed up power plant start-up. The stock has climbed 51% in 2026 and more than tripled over the past 52 weeks.
Finally, Cameco (NYSE: CCJ) looks very attractive. Based in Saskatoon, Canada, the company provides uranium to the nuclear industry by exploring for and mining it and then refining and converting it for use in reactors. The stock is up 25% year to date and 181% over the past 52 weeks.
Nuclear power is growing in importance due to demand for clean power and lots of it. Investors should consider participating in the trend.
Should you buy stock in GE Vernova right now?
Before you buy stock in GE Vernova, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and GE Vernova wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $573,160!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,204,712!*
Now, it’s worth noting Stock Advisor’s total average return is 1,002% — a market-crushing outperformance compared to 195% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 15, 2026.
Matthew Benjamin has positions in Microsoft. The Motley Fool has positions in and recommends Cameco, Constellation Energy, GE Vernova, and Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Nuclear Is the Energy Story of 2026. Here Are 3 Stocks to Own All Year.

Key Points
Cameco will profit from rising uranium prices.
Oklo’s microreactors could make it easier and cheaper to build smaller nuclear reactors.
In the decade after the 2011 Fukushima disaster, many countries throttled or paused their nuclear projects. As a result, many nuclear stocks fizzled out as investors focused on other types of clean energy -- such as solar, wind, and hydro power.
But over the past three years, some of those nuclear stocks recovered and hit new highs. One of the major catalysts was the rapid growth of the power-hungry cloud, data center, and artificial intelligence (AI) markets, which drove more companies to restart their nuclear projects. Another major tailwind has been the development of smaller, safer, and more power-efficient reactors.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
From 2024 to 2050, the International Atomic Energy Agency expects the world’s nuclear capacity to expand by up to 2.6 times. To capitalize on that growth, investors should consider buying these two nuclear stocks today: Cameco (NYSE: CCJ) and Oklo (NYSE: OKLO).
The uranium play: Cameco
Cameco, based in Canada, mined 15% of the world’s uranium in 2025, making it the second-largest uranium miner after Kazakhstan’s Kazatomprom. It operates mines and mills in Canada, the U.S., and Kazakhstan.
When uranium’s spot price plummeted from $62.25 per pound in 2011 to $35.00 in 2020, Cameco shut down its largest mines to stabilize its business. But the soaring demand for nuclear energy propelled uranium’s spot price to $84.25 at the end of this March, and Citi analysts believe its price could reach $100-$125 per pound this year.
In 2021, Cameco doubled its stake in Global Laser Enrichment (GLE), its uranium enrichment joint venture with Silex, from 24% to 49%. In 2023, it partnered with Brookfield Asset Management to acquire Westinghouse Electric, one of the world’s largest nuclear technology companies. Those investments could diversify Cameco’s business away from its mines and make it a more diversified nuclear energy company.
From 2025 to 2028, analysts expect Cameco’s revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to grow at CAGRs of 8% and 12%, respectively. It isn’t cheap at 20 times this year’s sales, but it could deserve that premium valuation if uranium prices continue to rise and it expands its non-mining nuclear businesses.
The next-gen reactor play: Oklo
Conventional nuclear reactors are large, expensive, and difficult to deploy in remote areas. They also need to be refueled in stages every two years.
Oklo addresses those issues with its Aurora microreactor, which generates only 1.5 MW on its own but can be connected to additional reactors to produce up to 75 MW per deployment. That modular design makes them ideal for remote and off-grid nuclear power plants. The Aurora also uses metallic uranium fuel pellets, which are denser, have better thermal resistance, and are cheaper to fabricate than the uranium dioxide fuel pellets used in conventional reactors. It also recycles its fuel in a closed loop, allowing it to last roughly a decade without refueling.
Oklo hasn’t deployed any of its reactors or generated any meaningful revenue yet. However, it expects to deploy its first 75 MW Aurora Powerhouse reactor in Idaho in 2027. It also secured a U.S. Department of Defense contract to build a small reactor for Eielson Air Force Base in Alaska. From 2026 to 2028, analysts expect its revenue to rise from less than $1 million to $36 milion as it deploys those reactors and secures more contracts.
Oklo might seem absurdly overvalued at 233 times its 2028 revenue. But if more countries adopt its microreactors to build smaller nuclear power plants, its sales could surge over the next few decades. Therefore, Oklo’s stock might still have significant upside for patient investors.
Should you buy stock in Cameco right now?
Before you buy stock in Cameco, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cameco wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $555,526!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,156,403!*
Now, it’s worth noting Stock Advisor’s total average return is 968% — a market-crushing outperformance compared to 191% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 13, 2026.
Citigroup is an advertising partner of Motley Fool Money. Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Brookfield Asset Management and Cameco. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Indicator	TTM Median
P/E	135.61 14.03
Price/Sales	20.77 1.48
P/B	10.47 1.46
P/FCF	53.64 10.18

Indicator	TTM Median
ROE	8.77 13.98
ROA	6.05 6.74
ROI	6.96 8.51
Net Worth	39.85 1.80
Quick Ratio	1.68 1.06
Current Ratio	2.47 1.26

Indicator	TTM Median
Net Profit Margin	15.30 14.79
Operating Margin	17.82 21.54
Gross Margin	36.24 48.17
Return on tangible equity	8.81 16.76

Indicator	TTM Median
EPS	0.36 0.39
EPS Forecast	0.29 0.35
Revenue	862.00M 220.00M
Gross Profit	259.00M —
EBITDA	186.00M —

Cameco Corporation

Recent quarterly and TTM performance

Valuation

Debts

Efficiency

Other ratios

Revenue