Cameco Stock And Nuclear Energy Picks for Investors Focused on Energy Security

Oil prices remain elevated and that keeps energy security in the spotlight. For many investors, that sparks fresh interest in nuclear energy stocks that aim to provide reliable baseload power with limited fuel exposure once plants are operating. The Nuclear Energy Stocks screener helps you quickly filter this complex space. This article highlights 3 stocks from the screener that show how different parts of the nuclear value chain work.

The three nuclear energy stocks covered below are just a sample of the opportunity set generated by the full screen. It surfaced 55 more companies across uranium supply, fuel cycle services, and nuclear power operations with equally compelling narratives that are not covered here.

To evaluate that wider field and focus on the highest conviction ideas for your watchlist, go straight to the Nuclear Energy Stocks screener.

Cameco (TSX:CCO)

Overview: Cameco is one of the largest pure-play uranium suppliers, producing and selling uranium concentrate that fuels commercial nuclear reactors across the Americas, Europe, and Asia, with additional exposure to fuel-cycle services and reactor technology through its Fuel Services and Westinghouse segments.

Operations: Cameco generates most of its revenue from about CA$2.9b in Uranium, CA$551 million from Fuel Services, a similar scale CA$3.4b contribution from Westinghouse, and a small amount from Other activities, offset by unallocated adjustments.

Market Cap: CA$61.5b

Investors looking at nuclear energy stocks may find Cameco interesting because it connects multiple pieces of the fuel chain, from uranium mining to fuel processing and reactor technology through its Westinghouse stake. The uranium segment ties directly into long-term contracts with utilities, which can support revenue visibility, even as recent quarters showed margin pressure and a 42% year-on-year adjusted EBITDA drop in Q2 2026. At the same time, a growing pipeline for AP1000 reactors and Department of Energy support keep interest high in how Westinghouse’s IPO and future projects could reshape earnings. If uranium prices or new-build timelines disappoint, that premium and those expectations could be tested, which makes Cameco a stock that some investors may prefer to monitor closely and analyze carefully.

Cameco’s uranium and Westinghouse exposure provides a powerful fuel-to-reactor story, but the real twist is how those pieces fit together in one valuation. Get the full context in the analysis report for Cameco

Build your own nuclear shortlist around Cameco

Cameco and the other two nuclear energy stocks in this article all surfaced from a single screen, but your best ideas often come from filters tailored to you. Use our flexible Screener to combine valuation, growth, balance sheet and risk checks, or follow one of our curated Investing Ideas.

Bird Construction (TSX:BDT)

Overview: Bird Construction is a Canadian contractor that builds and maintains complex industrial, institutional, and infrastructure projects, including specialized work for nuclear facilities where it provides civil construction, structural and mechanical services, electrical and instrumentation, high voltage commissioning, and modular fabrication alongside a wider portfolio across sectors like energy, transportation, and healthcare.

Operations: Bird generates about CA$3.7b in revenue from general contracting work in Canada.

Market Cap: CA$3.8b

Bird Construction gives you a different angle on the nuclear theme, not through uranium or reactors, but through the specialized construction and commissioning work nuclear projects rely on. A record backlog near CA$12b, including a preferred negotiating spot on a multi year nuclear sector contract, indicates a substantial pipeline of potential activity if projects proceed as planned. At the same time, profit margins have come under pressure and the stock trades on a high P/E. Any delay or underperformance on large, long cycle projects could quickly change sentiment. If you are interested in nuclear infrastructure and data center linked construction with growing recurring maintenance work, Bird is a business worth studying in more depth.

Bird Construction’s CA$12b backlog and nuclear project exposure could be masking a very different earnings path than its current high P/E suggests. See how that story stacks up in the analysis report for Bird Construction.

Energy Fuels (TSX:EFR)

Overview: Energy Fuels is a U.S. focused uranium producer that explores, mines, processes, and sells uranium for nuclear fuel, while also producing rare earth elements and heavy mineral sands that add extra revenue streams alongside its core nuclear exposure.

Operations: Energy Fuels currently generates about US$105.8 million in revenue from its uranium segment.

Market Cap: CA$5.2b

Energy Fuels provides direct exposure to the nuclear fuel chain through uranium production, with the additional potential of a mine-to-mill platform that is being extended into rare earths and magnet materials. The company is still loss making but is increasing low-cost uranium output and building heavy rare earth capacity at the White Mesa Mill, supported by a conditional US$725 million government loan and recent product qualifications with major Japanese magnet customers. That mix of nuclear-linked projects, a debt-free balance sheet, and policy support comes with execution and funding risk, especially around feedstock and large capital expenditures, but it also presents a story that many investors may want to understand in more detail.

Energy Fuels appears to be a uranium and rare earths story that may be developing more quickly than many investors realize. Get the full context in the analysis report for Energy Fuels

Seeking Fresh Alternatives Before They Fly

Markets move fast and the next breakout list rarely stays quiet for long. These fresh stock ideas may not stay under the radar for now, so consider them while they are still less widely followed.

• Identify resilient compounders before momentum headlines catch up by scanning companies in the 9 resilient stocks with low risk scores while it still reflects conditions that matter for disciplined investors.
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• Evaluate real businesses participating in the AI trend by assessing the hand picked 76 profitable AI stocks that aren't just burning cash with attention to companies already turning growth into earnings.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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