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Cameco inventory has vastly outperformed the S&P 500 prior to now 5 years.
This might simply be the start of one other bull run as demand for nuclear power explodes.
When you’ve spent any time following the nuclear power house or investing in uranium shares, you’ve got nearly actually come throughout Cameco (NYSE: CCJ). It is among the many world’s largest miners of uranium, a key nuclear gas.
Cameco inventory, nonetheless, remained comparatively flat for a number of years till the early 2020s as a result of lingering results of the 2011 Fukushima Daiichi catastrophe, which compelled Japan to close down all 54 of its nuclear reactors and considerably damage demand for uranium, a key nuclear gas. Main uranium producers like Kazatomprom and Cameco slashed manufacturing, partly to steadiness the oversupplied market and help uranium costs.
Quick-forward to in the present day, and Cameco inventory has delivered blockbuster returns for buyers who held on to the inventory patiently over time.
Cameco was all the time a top-quality firm with unmatched scale, market management, sturdy financials, and a constant dividend observe file regardless of the trade’s volatility. But, even high quality corporations can underperform if the top markets aren’t favorable. Zoom out, and the basics will ultimately present up within the inventory value, rewarding shareholders.
That is precisely what’s occurred with Cameco inventory, as you will notice while you consider the inventory’s efficiency lately.
Cameco has completely crushed the S&P 500 (SNPINDEX: ^GSPC) over time, whether or not you look again one, three, or 5 years.
Funding | One-Yr Complete Return | Three-Yr Complete Return | 5-Yr Complete Return |
|---|---|---|---|
Cameco | 78.3% | 326% | 618% |
S&P 500 | 17.8% | 88.4% | 101.4% |
Information supply: Ycharts.
Between 2021 and 2024, uranium costs greater than tripled to over $100 per pound, pushed by a deficit after years of underinvestment and low manufacturing, in addition to geopolitical components such because the U.S. ban on uranium imports from Russia in 2024.
In between, Cameco made one in every of its smartest strikes in historical past by buying a 49% stake in Westinghouse Electrical in November 2023, with Brookfield Renewable Companions shopping for the remaining stake with its institutional companions. Since Westinghouse designs superior nuclear reactors and focuses on important nuclear plant parts, in addition to upkeep and servicing of reactors, a stake within the firm has successfully made Cameco a vertically built-in nuclear power big.
That transfer is paying off handsomely for Cameco. In October 2025, the U.S. authorities signed a serious partnership with Cameco and Brookfield Asset Administration to finance and approve new Westinghouse reactors value a minimum of $80 billion to spice up the home nuclear power trade. Cameco shares began to rise quickly after President Donald Trump signed government orders in Might outlining bold plans to quadruple America’s nuclear power capability by 2050. The uranium inventory has logged over 80% features in 2025, however there’s much more to come back.
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