Cameco Stock And 2 Nuclear Energy Picks Worth A Closer Look

Energy prices keep drawing attention as inflation debates continue in central banks from Europe to Japan. That keeps reliable, low carbon power sources like nuclear energy stocks firmly in the spotlight. Investors watching policy makers wrestle with energy driven price pressures may see an opportunity to look beyond short term headlines. This article walks through three nuclear energy stocks from the screener that stand out based on their fundamentals and business focus.

The three stocks below are just a starting sample from the nuclear energy stocks space, and the full screen surfaced 55 more companies with equally focused stories around uranium supply, fuel cycle services, and reactor related infrastructure that are not covered here. To see the wider opportunity set, head straight to the Nuclear Energy Stocks screener to identify, filter, and analyze the nuclear energy stocks that best fit your own conviction and risk profile.

Cameco (TSX:CCO)

Cameco is a major supplier of uranium and fuel services for nuclear power plants, with an added stake in reactor technology through its Westinghouse business. In 2025 it generated about CA$2.9b from Uranium, CA$551 million from Fuel Services, and CA$3.4b from Westinghouse, partly offset by unallocated adjustments, which shows how tightly its results are tied to both fuel and reactor activity. The company has a market cap of roughly CA$59.2b, which places it among the larger nuclear focused stocks globally.

Investors looking at nuclear energy may consider Cameco because it combines uranium mining, fuel services, and a 49% interest in Westinghouse, which is linked to the AP1000 reactor pipeline and a US$17.5b US Department of Energy loan commitment. The stock currently trades on a rich P/S multiple and has seen earnings fall over the past year. Project delays, operational issues at mines like McArthur River, and supply chain risks from Kazakhstan add real uncertainty. The mix of long term nuclear policy support, a premium valuation, and these execution risks means Cameco may warrant a closer look before deciding how it fits a given portfolio.

Cameco’s mix of uranium, fuel services and Westinghouse raises a big question. Is the premium P/S multiple just hype, or reflecting something deeper in the story that many are missing? The 2 key rewards and 1 important warning sign could reveal what is quietly driving that valuation and where the real fault line sits.

Build your own nuclear energy shortlist

Cameco and the other two nuclear energy stocks here all surfaced from a single Simply Wall St screener, but the real edge comes when you build your own filters around valuation, balance sheet strength, risks, and future growth. Use our flexible Screener to shape a watchlist that fits your approach, or jump straight into our curated Investing Ideas for ready made starting points.

WSP Global (TSX:WSP)

WSP Global is a Montreal based professional services firm that plans, designs, and manages large infrastructure and energy projects, including lower carbon and nuclear related work, for governments and corporations worldwide. It generates most of its revenue in the Americas at about CA$9.0b, followed by roughly CA$5.5b from EMEIA, CA$2.9b from Canada, and CA$2.0b from the Asia Pacific region, which shows how globally diversified the business has become. The company has a market cap of about CA$25.6b.

Investors watching the nuclear energy theme often focus on miners or utilities, but WSP Global offers exposure to the picks and shovels side of the story through its advisory and engineering work on lower carbon and nuclear projects. The company sits on a record CA$20.1b backlog and delivers high quality earnings, yet the stock has recently lagged both the Canadian Construction sector and the wider market. That combination of contracted work, earnings growth and relative underperformance is what makes WSP Global interesting. At the same time, the business leans on acquisitions and public infrastructure budgets, carries meaningful debt, and faces intense competition for skilled engineers, all of which can pressure margins if conditions turn.

WSP Global’s stalled share performance against a CA$20.1b backlog raises a sharp question. Is the market missing something in the underlying story, or seeing a threat you are not The analysis report for WSP Global might clarify the gap.

Bird Construction (TSX:BDT)

Bird Construction is a Canadian contractor that builds and maintains complex industrial, infrastructure, institutional, and commercial projects, from data centers and nuclear facilities to schools and public spaces. The company generated about CA$3.5b in revenue from the general contracting sector in Canada, and has a market cap of roughly CA$3.7b.

Investors watching nuclear and energy infrastructure may pay attention to Bird Construction because it operates where government backed projects, AI data centers, and green energy builds intersect. A record order book in areas such as nuclear, hydro, LNG, and public infrastructure, along with recurring maintenance contracts, suggests more predictable work. At the same time, recent earnings pressure and a premium P/E highlight that execution on delayed projects remains important. Analysts are also incorporating expectations of rapid earnings growth, while Bird is reshaping its balance sheet with new long term debt and continuing to return cash through monthly dividends. The combination of backlogged work, nuclear exposure, and valuation expectations makes the next few results and project updates worth watching closely.

Bird Construction’s premium P/E, record order book and nuclear exposure hint at a story that many investors might be only half seeing. The 2 key rewards and 1 important warning sign could surface the one contract and margin twist that changes the picture

Seeking Alternatives Before Everyone Else

Fresh themes can start breaking out fast while attention stays locked on yesterday’s story. Some ideas can remain under the radar for a time, so consider doing your research early.

• Identify companies with sturdy balance sheets before momentum headlines emerge by scanning our curated list of solid balance sheet and fundamentals (12 results), which are still priced for hesitation rather than confidence.
• Explore the development of intelligent infrastructure by reviewing 56 AI infrastructure stocks, which includes businesses involved in the backbone for data, power, and automation.
• Evaluate potential income-oriented opportunities by checking 5 dividend fortresses, which focuses on companies that combine income with fundamentals.

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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