Cameco Stock And 2 Nuclear Energy Picks Worth Watching

Global bond yields are trading near multi month highs, and that keeps inflation and long term energy costs firmly on investors’ radar. Reliable power sources, including nuclear energy stocks, draw extra attention when funding costs and price pressures stay in focus. This article looks at three stocks from our Nuclear Energy Stocks screener that many investors are watching closely for exposure to this long term theme.

The three nuclear energy stocks below are just a starting sample, and the full screen surfaced 55 more companies with narratives that many investors may find equally compelling but are not covered here. To identify and analyze the highest conviction nuclear energy opportunities, go straight to the Nuclear Energy Stocks screener.

Cameco (TSX:CCO)

Overview: Cameco is a Canadian uranium producer that supplies the fuel used in commercial nuclear reactors, supported by its Fuel Services segment and a 49% interest in Westinghouse, which provides reactor technology, components and services to utilities worldwide.

Operations: Cameco generates most of its revenue from its Uranium segment at about CA$2.9b, with additional contributions from Fuel Services at about CA$551 million and the Westinghouse segment at about CA$3.4b, partly offset by unallocated adjustments.

Market Cap: CA$58.1b

Cameco gives you exposure to both sides of the nuclear theme, from mining and processing uranium to supplying reactor technology through Westinghouse. Governments are leaning on nuclear for reliable, low carbon power. Analysts see potential for higher earnings and margins as long term uranium contracts reset and the AP1000 reactor pipeline gains traction. However, Q2 2026 showed how sensitive results can be to weaker uranium volumes and softer Westinghouse earnings. Production disruptions, higher input costs and relatively high valuation expectations mean execution needs to be tight. For investors willing to accept that risk profile, Cameco offers a way to tap the full nuclear fuel cycle and the possibility of additional value from a future Westinghouse IPO.

Cameco’s full fuel cycle story often hides in plain sight for investors focused on uranium alone. To see how uranium, Fuel Services and Westinghouse fit together, start with the analysis report for Cameco.

Build your own nuclear energy shortlist around Cameco

Cameco and the two other nuclear stocks in this article all came from a single screener, but the real value comes when you tailor the filters yourself. Use our flexible Screener to mix valuation, growth, balance sheet and risk criteria around your own thesis, or tap into our curated Investing Ideas for ready made starting points.

Bird Construction (TSX:BDT)

Overview: Bird Construction is a Canadian contractor that builds complex industrial, infrastructure, and institutional projects, including civil and structural works for nuclear and hydroelectric facilities alongside a broad mix of commercial and public buildings. For the nuclear energy theme, its most direct role is delivering site preparation, foundations, underground piping, and modular and steel structures for new and existing nuclear plants.

Operations: Bird generates all of its CA$3.7b in revenue from general contracting in Canada.

Market Cap: CA$4.0b

Bird Construction offers exposure to the nuclear energy build out through the less crowded angle of civil and structural construction. Record infrastructure backlog around CA$12b and recent nuclear sector awards indicate that its specialized earthworks, containment related concrete, and heavy industrial packages are in demand. At the same time, profit margins are thin and have recently moved lower, and the stock trades at a premium that already reflects high expectations for large projects to move ahead on time and on budget. If you are comfortable with project execution and financing risk, Bird’s mix of recurring maintenance work, strong balance sheet, and presence in complex nuclear and energy transition projects could merit further research.

Bird Construction’s growing nuclear project backlog and thin margins present an unusual combination of strength and fragility. Before you decide how that balance could play out, review the 2 key rewards and 1 important warning sign

Energy Fuels (TSX:EFR)

Overview: Energy Fuels is a U.S. based producer that explores for, recovers, and sells uranium concentrates used as fuel for nuclear reactors, while also producing rare earth elements, vanadium, and heavy mineral sands from its resource and processing assets.

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

Market Cap: CA$4.9b

Energy Fuels provides exposure to nuclear power through its uranium production business, with the added potential of a rare earths and heavy mineral sands platform that is expanding around the White Mesa Mill and a planned mine to magnet chain. The balance sheet is debt free and the company has attracted U.S. government support, including a conditional US$725 million loan commitment tied to critical materials projects. At the same time, Energy Fuels is loss making, heavily dependent on external feedstock and future project funding, and carries execution risk across several large developments. For investors willing to accept that trade off, Energy Fuels represents a concentrated way to gain exposure to uranium fuel supply with additional exposure to critical rare earth demand.

Energy Fuels appears to offer a rare combination of uranium fuel exposure, rare earth ambitions and a debt free balance sheet that many investors may be underestimating. Get the full context in the analysis report for Energy Fuels

Curious To Seek Alternatives Beyond Nuclear

Fresh ideas can move fast. Some stocks are building quiet breakout momentum under the radar for now. Check these curated shortlists before the crowd and act now.

• Spot income workhorses with hefty yields before they get widely chased by income funds through our curated 4 dividend fortresses.
• Catch early movers riding AI infrastructure momentum while valuations still look reasonable using a focused shortlist built from 55 AI infrastructure stocks.
• Target companies quietly gaining robotics momentum before attention floods in by scanning the hand picked 38 robotics and automation stocks.

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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