Cameco Stock And 2 Nuclear Energy Picks For Long Term Watchlists

Nuclear energy stocks sit at the crossroads of two big forces right now: energy security concerns and the global push for reliable, low carbon power. With inflation worries tied to oil prices, shifting central bank expectations and ongoing geopolitical tensions, many investors are looking for sectors that are less dependent on fossil fuel swings. The Nuclear Energy Stocks screener helps you filter this universe, from uranium suppliers to reactor operators, into a focused watchlist. In this article, you will see three stocks from the screener that illustrate how different parts of the nuclear value chain can fit into a long term portfolio framework.

Cameco (TSX:CCO)

Overview: Cameco is a Canadian based nuclear fuel company that supplies uranium and related services for power plants, spanning uranium mining, fuel conversion and fabrication, and a 49% interest in Westinghouse, a major nuclear reactor technology and services provider. Its customers are nuclear utilities across the Americas, Europe, and Asia that rely on Cameco for both raw material and reactor support services.

Operations: Cameco generates most of its revenue from Uranium at about CA$3.0b and Fuel Services at about CA$0.6b, with a further CA$3.6b attributed to Westinghouse, partly offset by segment and unallocated adjustments.

Market Cap: CA$55.4b

Cameco attracts interest because it sits at the heart of the nuclear fuel cycle, with Tier 1 uranium assets, a growing stake in high grade reserves like Cigar Lake and exposure to reactor services through Westinghouse, all aligned with rising nuclear build out themes. At the same time, investors need to weigh a very high P/E multiple and a share price that screens above an estimated cash flow value against strong earnings momentum, improving margins at 18.4% and analyst expectations for solid revenue and earnings growth. Add in recent mine suspensions, new ownership stakes, and a relatively new management team, and the real question is whether Cameco’s long term contracts and supply position are enough to justify its premium story.

Cameco’s premium P/E and uranium position may look fully priced, but the real tension is whether contracts and Westinghouse exposure support that tag or mask a key swing factor in the DCF valuation analysis for Cameco

WSP Global (TSX:WSP)

Overview: WSP Global is a Montreal based engineering and consulting company that helps governments and businesses plan, design, and manage major infrastructure and energy projects, from rail and airports to water systems and lower carbon power including nuclear. It also advises clients on decarbonization, digital building design, environmental studies, and long term sustainability planning across multiple regions.

Operations: WSP Global generates its revenue across Canada at about CA$2.8b, the Americas at about CA$8.4b, EMEIA at about CA$5.3b, and the Asia Pacific region at about CA$2.0b.

Market Cap: CA$23.6b

WSP Global stands out in the nuclear energy theme because it sits at the intersection of sustainable infrastructure, digital design, and lower carbon power projects. This position is underpinned by a CA$16.3b backlog and a long history of working with public and private clients. Earnings growth has outpaced revenue and margins have improved. Some analysts view the stock as trading below estimated fair value, with price targets above current levels. At the same time, higher debt levels, modest revenue growth expectations, and reliance on public infrastructure budgets highlight the importance of continued execution and careful acquisition integration, which is where upcoming results and guidance updates may be particularly relevant for investors following this company.

WSP Global’s CA$16.3b backlog and margin progress hint at a story that the share price may not fully reflect yet, but the real twist might sit inside the 5 key rewards and 1 important warning sign

Bird Construction (TSX:BDT)

Overview: Bird Construction is a Canadian construction company that builds and maintains large industrial, infrastructure, and institutional projects, from hospitals and schools to data centers, mines, and energy facilities including nuclear and renewable power. It also provides ongoing maintenance, repair, and specialized electrical and mechanical services for clients across sectors like oil and gas, LNG, natural resources, and power.

Operations: Bird Construction generates about CA$3.5b in revenue from the general contracting sector of the construction industry in Canada.

Market Cap: CA$4.0b

Investors looking at the nuclear energy build out may find Bird Construction interesting because it couples a record infrastructure backlog and a growing presence in specialized, higher margin work such as nuclear, LNG, green buildings, and a Bell AI data center with a mix of positive and negative factors. On the positive side, the company has an expanded credit facility, new senior notes, and a growing mix of recurring maintenance contracts that provide additional financial flexibility and resilience. On the challenging side, it is still working through weaker recent earnings, a slim 1.4% net margin, and exposure to delayed capital projects that can pressure profitability when volumes soften. The key consideration for investors is how this combination of opportunity and execution risk affects the company’s long-term risk and reward profile.

Bird Construction’s record backlog and higher margin nuclear and data center work suggest a story that the market may not fully be pricing, and the real inflection point might be hiding in the analyst forecasts for Bird Construction

The three nuclear energy stocks in this article are only a starting point, and the full screener has identified 54 more companies with equally compelling narratives across the sector, all captured in the Nuclear Energy Stocks screener. Use Simply Wall St to review the specific catalysts, contracts, balance sheet strength, and nuclear growth angles that matter most to you so you can focus on the ideas from this theme that best match your own convictions.

Take Control of Your Investment Journey

If Bird Construction or any of these companies have caught your attention, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value and track any new developments as they happen. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

Seeking Fresh Alternatives Beyond Nuclear?

New ideas get crowded fast. Spot breakout themes, shifting momentum, and under the radar stocks while it matters, before prices get caught flying or dropping, and get in early.

• Spot underfollowed value plays with solid balance sheets and cash flows by scanning the curated 5 high quality undervalued stocks, built to highlight quality first, not hype.
• Ride the build out of next generation computing by filtering a hand picked universe of 26 quantum computing stocks that could reshape long term tech infrastructure.
• Target dependable income ideas by reviewing a carefully filtered pool of 6 dividend fortresses that aim to pair high yields with business resilience.

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com