Cameco (CCJ) Hit an All-Time High This Week. Here is Why

The share price of Cameco Corporation (NYSE:CCJ) surged by 9.68% between January 22 and January 29, 2026, putting it among the Energy Stocks that Gained the Most This Week.

Cameco Corporation (NYSE:CCJ) is one of the largest global providers of uranium fuel to power the ongoing nuclear energy renaissance.

Cameco Corporation (NYSE:CCJ) continued its rally and hit an all-time high on January 28 after a rapid surge in the price of the nuclear fuel. Uranium futures in the US are currently hovering at over $101 per pound, the highest since February 2024, on bets of high demand in the long term.

Uranium has been in the spotlight since last year after the Trump administration announced plans to significantly raise America’s nuclear energy capacity and cut regulations for the construction of new nuclear power plants. Moreover, the authorities announced funding for local suppliers and enrichers of uranium to ensure the country’s energy security and reduce reliance on imports from Russia.

Following the recent uptick, the share price of Cameco Corporation (NYSE:CCJ) has gained nearly 166% over the last year.

While we acknowledge the potential of 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.

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Disclosure: None.