Why Cameco (CCJ) is a Great Buy Amid a Nuclear Energy Renaissance

Cameco Corporation (NYSE:CCJ) is among the  Best Nuclear Energy Stocks to Buy Right Now. The stock is a great buy amid the global nuclear renaissance, with the stock touching a new high this week. The Canadian company mined approximately 17% of the world’s uranium in 2024, making it the second-largest uranium miner globally. Moreover, Cameco now owns a 49% stake in Westinghouse Electric, which designs and builds nuclear power plants, making it a well-rounded bet amid the much-anticipated nuclear energy boom.

Cameco Corporation (NYSE:CCJ) expects its Westinghouse stake to increase its adjusted EBITDA by about $170 million, a considerable figure for a company that reported an adjusted EBITDA of $1.55 billion in 2024. Moreover, the stake should help Cameco reduce its volatility by generating more stable returns than its cyclical uranium business, in addition to making it the preferred uranium supplier for Westinghouse’s nuclear power plants.

With mines and mills in Canada, the United States, and Kazakhstan, Cameco Corporation (NYSE:CCJ) has a licensed capacity to produce more than 53 million pounds of uranium concentrates annually.

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.