Canadian Nuclear Stocks To Watch In September 2026

Rising bond yields are drawing attention back to income and capital preservation, which puts long term, reliable power sources like Canadian nuclear energy in sharper focus. As investors reassess risk across sectors, businesses tied to uranium production and reactor operation can appear relatively insulated from short term fuel price swings. This article walks through three nuclear energy stocks from our screener that provide different ways to gain exposure to this theme.

The three nuclear energy stocks in this article are only a small sample from the opportunity set, and the full screen surfaced 57 more companies with equally compelling narratives that are not covered here. To go wider and deeper on nuclear energy stocks, analyze the full universe with the Nuclear Energy Stocks screener.

Aecon Group (TSX:ARE)

Aecon Group taps into the Nuclear Energy Stocks theme through its construction work on nuclear power infrastructure, while still running a broad civil, transport, utilities and concessions portfolio that gives investors exposure to large, long-lived energy and infrastructure projects.

Aecon Group generates almost all of its CA$6.0b revenue from its Construction segment, with only about CA$8 million from Concessions, and has a market cap of roughly CA$3.6b.

For nuclear-focused investors, Aecon Group matters because its concrete and civil work on reactor refurbishments connects directly to the build out of long life, baseload power assets that underpin the entire theme.

"Aecon's growing expertise and market position in nuclear and power transmission, alongside successful project delivery and potential for additional wins in both the Canadian and U.S. markets, positions the company to capture outsized share of secular industry growth, boosting long-term revenue and profitability."

What happens to Aecon Group’s earnings profile if one unseen pressure on its nuclear heavy backlog breaks in the right direction?

If that pressure eases, read the full narrative for Aecon Group to see how Aecon Group’s nuclear backlog, capital intensity and contract mix could be quietly reshaping future earnings power.

NexGen Energy (TSX:NXE)

NexGen Energy is a uranium explorer and developer focused on its 100% owned Rook I project in Saskatchewan’s Athabasca Basin, which is a potential future fuel source for nuclear reactors worldwide. The business is pre revenue and has a market cap of about CA$8.7b.

Rook I gives NexGen Energy direct leverage to uranium demand, which is central to the Nuclear Energy Stocks theme. However, investors are currently backing a project rather than a producing miner. Interest often comes from those willing to accept funding risk today in exchange for what happens if a single project execution assumption shifts in their favour.

If that single assumption starts to tilt in NexGen Energy’s favour, dig into the analyst forecasts for NexGen Energy to see where expectations could already be stretching.

Denison Mines (TSX:DML)

Denison Mines is a uranium exploration and development business focused on the Athabasca Basin, with its 95% owned Wheeler River project anchoring its role in the nuclear fuel supply chain. It currently reports about CA$4 million in mining revenue and has a market cap near CA$3.4b.

For investors tracking the nuclear energy theme, Denison Mines offers exposure to future uranium supply through concentrated development work at Wheeler River rather than mature production. This places significant importance on how its next few project milestones unfold.

"Over the next three years, Denison Mines is expected to progress further in the development of its uranium assets and strengthen its position as a key future supplier of uranium in North America."

What happens to Denison Mines’ long term earnings potential if one crucial assumption about Wheeler River’s path from construction to production shifts in the right direction?

If that shift starts to break Denison Mines’ way, read the full narrative for Denison Mines to see how execution risk, timelines and capital needs might really be interacting.

Seeking Fresh Alternatives Beyond Nuclear?

Fresh ideas tend to move first, then the crowd arrives and the easy entry points vanish. Before the next breakout gathers momentum and flies away, get in early.

• Spot potential turnarounds before headlines catch up by scanning the 9 high quality undiscovered gems that still trade under the radar for now.
• Lock in income while yields remain elevated by reviewing the 1 dividend fortresses built to spotlight businesses aiming to keep payouts steady as conditions shift.
• Position ahead of the next infrastructure upgrade cycle by assessing the 40 power grid technology and infrastructure stocks before these enablers of electrification get fully repriced by the crowd.

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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