Should You Be Excited About the Growth Prospects of Cameco Corporation (CCJ)?

Hardman Johnston Global Advisors, an investment management company, released its “Hardman Johnston Global Equity Strategy” investor letter for the fourth quarter of 2025. A copy of the letter can be downloaded here. Global equity markets delivered robust results in the quarter, backed by easing inflation trends and strong economic data. The Hardman Johnston Global Equity Strategy returned 2.91%, net of fees, compared to the MSCI AC World Net Index’s 3.29% gain. The Financials and Consumer Staples sectors contributed to the performance, while the Industrials and Consumer Discretionary sectors detracted from relative performance. In addition, please check the Strategy’s top five holdings to know its best picks in 2025.

In its fourth-quarter 2025 investor letter, Hardman Johnston Global Equity Strategy highlighted Cameco Corporation (NYSE:CCJ) as a new holding. Cameco Corporation (NYSE:CCJ) is a leading uranium-producing company. One-month return of Cameco Corporation (NYSE:CCJ) was 37.69%, and its shares gained 151.59% of their value over the last 52 weeks. On January 27, 2026, Cameco Corporation (NYSE:CCJ) stock closed at $125.97 per share, with a market capitalization of $55.005 billion.

Hardman Johnston Global Equity Strategy stated the following regarding Cameco Corporation (NYSE:CCJ) in its fourth quarter 2025 investor letter:

"During the quarter we initiated positions in Cameco Corporation (NYSE:CCJ), Citigroup Inc., Elanco Animal Health, Inc., HDFC Bank Ltd., and Vertiv Holdings Co. We initiated a position in Cameco Corp., a vertically integrated global leader in uranium mining and fuel services. With its 49% stake in Westinghouse acquired in 2023, the company moved further downstream and holds key nuclear technology which is employed on approx. half of the global nuclear installed base. Since Russia’s Ukraine invasion, countries have been shifting uranium and fuel sourcing away from Russia, and Cameco is well-poised to benefit from this structural shift. Furthermore, with the emergence of AI and its vast energy needs, nuclear development has been reinvigorated globally due to its low carbon merits and stable base load power. In Oct 2025, Westinghouse signed a landmark agreement with the U.S. Department of Commerce to support at least US$80bn of new nuclear reactor construction to start by 2030. Along with a more favorable regulatory backdrop for permitting, we believe this materially increases the earnings power of Cameco. Given the structural nature of the Westinghouse agreement and the potential for a broader global nuclear investment cycle, we are excited about the prospects for Cameco."

Cameco Corporation (NYSE:CCJ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 79 hedge fund portfolios held Cameco Corporation (NYSE:CCJ) at the end of the third quarter, up from 77 in the previous quarter. While we acknowledge the potential of Cameco Corporation (NYSE:CCJ) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Cameco Corporation (NYSE:CCJ) and shared a bullish thesis on the company. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.