Surge in Nuclear Energy Investment Amid Oil Price Shock
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 27 2026
0mins
Should l Buy CCJ?
Source: CNBC
- Energy Diversification Trend: In response to what IEA chief Fatih Birol termed the 'largest oil price shock in history,' countries are scrambling to diversify their energy mix, with South Korea committing to nuclear power to address supply crises caused by the Iran war.
- Structural Shortage in Uranium Market: Global uranium production is led by Kazakhstan's Kazatomprom, accounting for 21% of output in 2024, while its rival Cameco holds 17%, with long-term underinvestment resulting in demand consistently outpacing supply, driving up Kazatomprom's stock price.
- Increased Investment Opportunities: Investors can gain liquid exposure to uranium spot prices through companies like Yellow Cake plc, with Citi and Bank of America expressing bullish forecasts for uranium prices, predicting a rise to $135 per pound by 2027, highlighting nuclear energy's potential as a solution for decarbonization and energy independence.
- Focus on Canadian Mining: Kumar from Seven Investment Management noted that Canadian mining companies like Cameco, valued at CAD 72 billion (approximately USD 53 billion), are expected to become 'very popular,' reflecting strong demand for established players in the nuclear market.
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Analyst Views on CCJ
Wall Street analysts forecast CCJ stock price to fall
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 112.510
Low
71.80
Averages
105.67
High
118.78
Current: 112.510
Low
71.80
Averages
105.67
High
118.78
About CCJ
Cameco Corporation is a provider of uranium fuel to generate baseload electricity around the globe. Its segments include uranium, fuel services and Westinghouse. The uranium segment involves the exploration for, mining, milling, purchase and sale of uranium concentrate. The fuel services segment involves the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services. The Westinghouse segment reflects its earnings from this equity-accounted investment. Westinghouse is a nuclear reactor technology original equipment manufacturer and a global provider of products and services to commercial utilities and government agencies. It provides outage and maintenance services, engineering support, instrumentation and controls equipment, plant modification, and components and parts to nuclear reactors. It has two operating mines, Cigar Lake and McArthur River as well as a mill at Key Lake. It also has ownership interests in Global Laser Enrichment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cameco: The Best Investment in Nuclear Energy Resurgence
- Nuclear Market Opportunity: As the largest pure-play nuclear company, Cameco benefits from soaring uranium prices driven by its top-tier operations in Canada and Kazakhstan, with an average realized price of $34.53 per pound in 2021 expected to rise to $66.21 per pound by Q1 2026, indicating strong profit potential.
- Demand-Driven Growth: The increasing demand for nuclear energy from hyperscalers for their data centers boosts Cameco's fuel services segment, particularly as long-term power purchase agreements with nuclear companies drive significant growth in uranium demand, solidifying its market position.
- Strategic Partnerships: The U.S. government's strategic partnership with Cameco and Brookfield Asset Management, involving an $80 billion investment in Westinghouse nuclear reactors, underscores the importance of nuclear energy and provides Cameco with potential cash distributions and IPO rights, enhancing its financial stability.
- Long-Term Development Potential: Cameco's Board Chair Catherine Gignac highlighted that the operation of new reactors will create significant long-term opportunities for maintenance, services, and fuel supply, expected to generate substantial revenue for both Cameco and Westinghouse, further solidifying their leadership in the nuclear market.
See More
Nuclear Energy Revival: Massive Growth Potential Over Next 25 Years
- Nuclear Market Opportunity: The U.S. government aims to quadruple nuclear capacity from approximately 100 GW in 2024 to 400 GW over the next 25 years, potentially creating a $10 trillion market opportunity, highlighting nuclear energy's critical role in the clean energy transition.
- Uranium Supply Dominance: Cameco currently produces about 17% of the world's uranium, ranking second globally, and with demand expected to rise by 28% by 2030, Cameco's pricing power and sales volume are set to significantly increase, further solidifying its market position.
- Small Reactor Technology: NuScale Power is the only company with an NRC-approved small modular reactor design, and SMR technology is seen as a primary growth driver for the nuclear industry, potentially reducing construction time from a decade to two to three years and lowering costs.
- Strategic Investment Outlook: Cameco holds a 49% stake in Westinghouse, which is engaged in an $80 billion agreement with the U.S. government to build new reactors, underscoring its strategic importance and market potential in the nuclear renaissance.
See More
Eagle Nuclear Energy Begins Environmental Baseline Studies
- Project Launch: Eagle Nuclear Energy Corp. announced on May 5, 2026, the commencement of environmental baseline studies at its flagship Aurora project, preparing for a 27,000-foot drilling program set to begin in July 2026, indicating the company's proactive positioning in the nuclear energy sector.
- Resource Reserves: The Aurora project hosts 32.75 million pounds of indicated uranium resources and 4.98 million pounds of inferred resources, establishing the company’s leading position in the largest conventional uranium deposit in the U.S., which is expected to drive future resource development and market competitiveness.
- Drilling Agreement: The company has signed a drilling services agreement with Harris Exploration Drilling, committing up to three rigs to complete the 47-hole program, anticipated to be finished within three to four months, further advancing the project towards a Pre-Feasibility Study (PFS).
- Market Context: As of May 2026, spot uranium prices are approximately $86.55 per pound, up 24% from the previous year, reflecting rising domestic demand for uranium development, with Eagle Nuclear's strategic initiatives closely tied to national security discussions.
See More
Eagle Nuclear Initiates Environmental Baseline Studies
- Project Launch: Eagle Nuclear Energy Corp. announced on May 5, 2026, the initiation of environmental baseline studies at its flagship Aurora Uranium Project, preparing for a 27,000-foot drilling program set to commence in July 2026, indicating the company's proactive stance in uranium resource development.
- Resource Reserves: The Aurora Uranium Project hosts 32.75 million pounds of indicated uranium resources and 4.98 million pounds of inferred resources under the SK-1300 TRS reporting standard, highlighting its significant position in the U.S. uranium market.
- Drilling Program: The drilling program will be conducted by Harris Exploration Drilling & Associates Inc., utilizing 2 to 3 rigs to complete 47 holes over an estimated 3 to 4 months, aimed at addressing data gaps and advancing the Pre-Feasibility Study (PFS).
- Market Context: As of May 2026, spot uranium prices are approximately $86.55 per pound, a 24% increase year-over-year, reflecting the growing domestic demand for uranium development, which further propels Eagle Nuclear's strategic growth.
See More
Cameco Provides Operational Update Amid Flooding Disruptions
- Flood Impact on Transport: The collapse of the Smoothstone River Bridge due to flooding has restricted Cameco's primary transport route in northern Saskatchewan, although production sites remain unaffected, the supply transport disruptions will impact operations.
- Production Activities Halted: Production activities at the Key Lake mill have been temporarily halted, and operations at the McArthur River mine have been reduced until the normal delivery of critical operating materials can resume, with the timeline for resumption currently unknown.
- Ongoing Operations at Cigar Lake: Despite transport challenges, the Cigar Lake mine continues to operate normally, and the company's consolidated annual production plan remains unchanged, demonstrating a degree of operational resilience.
- Future Production Risks: If road restrictions persist for an extended period, there is a risk that the 2026 production outlook for the McArthur River and Key Lake operations could be impacted, with Cameco maintaining regular contact with the Saskatchewan Ministry of Highways to address this challenge.
See More
Surge in Nuclear Demand Reveals Investment Opportunities
- Electricity Demand Surge: Between 2000 and 2020, electricity demand increased by 9%, with projections indicating a 50% rise from 2020 to 2040, highlighting a renaissance in nuclear energy as a reliable, carbon-free source, thus creating investment opportunities in the sector.
- Supplier Investment Options: Brookfield Renewable Partners, with its globally diversified clean energy portfolio, including a 50% stake in Westinghouse, offers a 4.7% dividend yield, making it an attractive option for conservative investors looking to enter the nuclear space.
- Plant Operator Insights: Southern Company's recently constructed Vogtle nuclear plants, despite delays and budget overruns, are now connected to the grid and expected to provide decades of reliable clean energy, complemented by a 3.1% dividend yield appealing to conservative investors.
- New Technology Risk Investments: NuScale Power and Oklo are developing small modular nuclear reactors, and while neither has a commercial plant operational yet, they represent high-risk, high-reward opportunities for aggressive investors willing to bet on cutting-edge technology in the nuclear sector.
See More
Cameco: The Best Investment in Nuclear Energy Resurgence
- Nuclear Market Opportunity: As the largest pure-play nuclear company, Cameco benefits from soaring uranium prices driven by its top-tier operations in Canada and Kazakhstan, with an average realized price of $34.53 per pound in 2021 expected to rise to $66.21 per pound by Q1 2026, indicating strong profit potential.
- Demand-Driven Growth: The increasing demand for nuclear energy from hyperscalers for their data centers boosts Cameco's fuel services segment, particularly as long-term power purchase agreements with nuclear companies drive significant growth in uranium demand, solidifying its market position.
- Strategic Partnerships: The U.S. government's strategic partnership with Cameco and Brookfield Asset Management, involving an $80 billion investment in Westinghouse nuclear reactors, underscores the importance of nuclear energy and provides Cameco with potential cash distributions and IPO rights, enhancing its financial stability.
- Long-Term Development Potential: Cameco's Board Chair Catherine Gignac highlighted that the operation of new reactors will create significant long-term opportunities for maintenance, services, and fuel supply, expected to generate substantial revenue for both Cameco and Westinghouse, further solidifying their leadership in the nuclear market.
See More
Nuclear Energy Revival: Massive Growth Potential Over Next 25 Years
- Nuclear Market Opportunity: The U.S. government aims to quadruple nuclear capacity from approximately 100 GW in 2024 to 400 GW over the next 25 years, potentially creating a $10 trillion market opportunity, highlighting nuclear energy's critical role in the clean energy transition.
- Uranium Supply Dominance: Cameco currently produces about 17% of the world's uranium, ranking second globally, and with demand expected to rise by 28% by 2030, Cameco's pricing power and sales volume are set to significantly increase, further solidifying its market position.
- Small Reactor Technology: NuScale Power is the only company with an NRC-approved small modular reactor design, and SMR technology is seen as a primary growth driver for the nuclear industry, potentially reducing construction time from a decade to two to three years and lowering costs.
- Strategic Investment Outlook: Cameco holds a 49% stake in Westinghouse, which is engaged in an $80 billion agreement with the U.S. government to build new reactors, underscoring its strategic importance and market potential in the nuclear renaissance.
See More
Eagle Nuclear Energy Begins Environmental Baseline Studies
- Project Launch: Eagle Nuclear Energy Corp. announced on May 5, 2026, the commencement of environmental baseline studies at its flagship Aurora project, preparing for a 27,000-foot drilling program set to begin in July 2026, indicating the company's proactive positioning in the nuclear energy sector.
- Resource Reserves: The Aurora project hosts 32.75 million pounds of indicated uranium resources and 4.98 million pounds of inferred resources, establishing the company’s leading position in the largest conventional uranium deposit in the U.S., which is expected to drive future resource development and market competitiveness.
- Drilling Agreement: The company has signed a drilling services agreement with Harris Exploration Drilling, committing up to three rigs to complete the 47-hole program, anticipated to be finished within three to four months, further advancing the project towards a Pre-Feasibility Study (PFS).
- Market Context: As of May 2026, spot uranium prices are approximately $86.55 per pound, up 24% from the previous year, reflecting rising domestic demand for uranium development, with Eagle Nuclear's strategic initiatives closely tied to national security discussions.
See More
Eagle Nuclear Initiates Environmental Baseline Studies
- Project Launch: Eagle Nuclear Energy Corp. announced on May 5, 2026, the initiation of environmental baseline studies at its flagship Aurora Uranium Project, preparing for a 27,000-foot drilling program set to commence in July 2026, indicating the company's proactive stance in uranium resource development.
- Resource Reserves: The Aurora Uranium Project hosts 32.75 million pounds of indicated uranium resources and 4.98 million pounds of inferred resources under the SK-1300 TRS reporting standard, highlighting its significant position in the U.S. uranium market.
- Drilling Program: The drilling program will be conducted by Harris Exploration Drilling & Associates Inc., utilizing 2 to 3 rigs to complete 47 holes over an estimated 3 to 4 months, aimed at addressing data gaps and advancing the Pre-Feasibility Study (PFS).
- Market Context: As of May 2026, spot uranium prices are approximately $86.55 per pound, a 24% increase year-over-year, reflecting the growing domestic demand for uranium development, which further propels Eagle Nuclear's strategic growth.
See More
Cameco Provides Operational Update Amid Flooding Disruptions
- Flood Impact on Transport: The collapse of the Smoothstone River Bridge due to flooding has restricted Cameco's primary transport route in northern Saskatchewan, although production sites remain unaffected, the supply transport disruptions will impact operations.
- Production Activities Halted: Production activities at the Key Lake mill have been temporarily halted, and operations at the McArthur River mine have been reduced until the normal delivery of critical operating materials can resume, with the timeline for resumption currently unknown.
- Ongoing Operations at Cigar Lake: Despite transport challenges, the Cigar Lake mine continues to operate normally, and the company's consolidated annual production plan remains unchanged, demonstrating a degree of operational resilience.
- Future Production Risks: If road restrictions persist for an extended period, there is a risk that the 2026 production outlook for the McArthur River and Key Lake operations could be impacted, with Cameco maintaining regular contact with the Saskatchewan Ministry of Highways to address this challenge.
See More
Surge in Nuclear Demand Reveals Investment Opportunities
- Electricity Demand Surge: Between 2000 and 2020, electricity demand increased by 9%, with projections indicating a 50% rise from 2020 to 2040, highlighting a renaissance in nuclear energy as a reliable, carbon-free source, thus creating investment opportunities in the sector.
- Supplier Investment Options: Brookfield Renewable Partners, with its globally diversified clean energy portfolio, including a 50% stake in Westinghouse, offers a 4.7% dividend yield, making it an attractive option for conservative investors looking to enter the nuclear space.
- Plant Operator Insights: Southern Company's recently constructed Vogtle nuclear plants, despite delays and budget overruns, are now connected to the grid and expected to provide decades of reliable clean energy, complemented by a 3.1% dividend yield appealing to conservative investors.
- New Technology Risk Investments: NuScale Power and Oklo are developing small modular nuclear reactors, and while neither has a commercial plant operational yet, they represent high-risk, high-reward opportunities for aggressive investors willing to bet on cutting-edge technology in the nuclear sector.
See More
