Cameco Stock And 2 Nuclear Energy Stocks For Higher Oil Price Pressure

Energy markets keep reacting to elevated Brent crude prices, which continue to shape inflation expectations and central bank thinking. That puts steady, low carbon power sources like nuclear energy stocks in sharper focus for investors who care about resilience when fuel costs move around. This article highlights three stocks from the Nuclear Energy Stocks screener and explains what each brings to the table for long term portfolios.

The stocks below are just a small sample of nuclear energy opportunities, and the full screen surfaced 55 more companies with equally detailed stories that are not covered here. To go deeper into the idea, identify your own shortlist, and analyze potential high conviction setups, head straight to the Nuclear Energy Stocks screener.

Cameco (TSX:CCO)

Cameco is one of the largest pure uranium suppliers in the market, providing the fuel that keeps commercial nuclear reactors running. It also owns Fuel Services operations and a 49% stake in Westinghouse for reactor technology and services. In 2025 it generated about CA$2.9b from its Uranium segment, CA$551 million from Fuel Services and roughly CA$3.4b from Westinghouse, with only a very small Other line. The company is a major player in the global nuclear fuel cycle and has a market cap of roughly CA$59b.

For investors who want direct exposure to the nuclear fuel chain, Cameco offers a mix of uranium mining, fuel processing and reactor technology through Westinghouse that few listed companies can match. The story is not risk free, with recent margin pressure, a drop in adjusted EBITDA and production challenges at assets like Cigar Lake reminding you how sensitive uranium operations and contract timing can be. At the same time, a large long term delivery book, firm uranium prices and a growing reactor project pipeline supported by US DOE financing give Cameco levers that may justify the premium valuation if management executes. The real question is whether you think this mix of contracted cash flows, Westinghouse optionality and execution risk still leaves enough upside on the table.

Cameco’s mix of contracted uranium, fuel services and Westinghouse exposure can make the headline valuation look incomplete. To see how those moving parts stack up against the risks, review the 2 key rewards and 1 important warning sign.

Build your own nuclear energy shortlist around Cameco

Cameco and the two other stocks in this list all came from a single screen, but the real edge comes when you set the rules yourself. Use our flexible Screener to blend filters like valuation, growth, balance sheet strength and risks so they fit your style, or jump straight into any of our curated Investing Ideas.

Bird Construction (TSX:BDT)

Bird Construction is a Canadian contractor that builds and maintains industrial facilities, infrastructure and institutional buildings, while also taking on specialized civil, modular and electrical work for nuclear sector projects such as site preparation, containment structures and instrumentation. The company reports all its CA$3.7b revenue under a single General Contracting sector line, reflecting a broad mix of work across Canada, with nuclear related construction forming just one part of that diversified portfolio. Bird Construction has a market cap of about CA$4.1b.

Bird Construction gives you exposure to nuclear power in a different way, as a contractor that helps design, build and retrofit the infrastructure around reactors rather than supplying the fuel. Record quarterly revenue above CA$1b, a combined backlog near CA$12b and recent nuclear sector contract awards indicate years of work already lined up, including in greenfield and brownfield projects that fit the Nuclear Energy Stocks theme. The flip side is that profit margins are thin and have recently compressed, while a high P/E and reliance on external borrowing leave limited room for disappointment if large projects are delayed or underperform. For investors who can accept those trade offs, Bird’s expanding role in complex nuclear and energy transition projects may merit further research.

Bird Construction’s record revenue and near CA$12b backlog suggest momentum that many investors may not be fully pricing in, yet thin margins and a high P/E raise sharp questions. Get the full story in the 1 key reward and 1 important warning sign

Energy Fuels (TSX:EFR)

Energy Fuels is a uranium producer that explores, mines, processes and sells uranium in the United States for use as nuclear reactor fuel, which is the main link to the Nuclear Energy Stocks theme. The company also sells vanadium pentoxide, rare earth elements and heavy mineral sands, but its reported $106 million of revenue comes from the Uranium segment, with other activities still in earlier stages. Energy Fuels has a market cap of about CA$5.2 billion.

Energy Fuels provides direct exposure to uranium supply for nuclear reactors, backed by a US-focused production base and a growing rare earths platform built around the White Mesa Mill. The company is still loss making and carries funding and execution risk as it scales projects and integrates acquisitions. At the same time, it has debt-free finances, benefits from US government interest in critical materials, and has stated plans to increase uranium output and rare earth processing capacity, which together could meaningfully change the profile of the business over time.

Energy Fuels is trying to turn a debt free balance sheet and US critical materials focus into something bigger, yet many investors may still be treating it as a simple uranium story. To see how that broader thesis and the key funding and execution questions fit together, go through the full narrative for Energy Fuels

Seeking Alternatives Beyond Nuclear Energy

Fresh opportunities can move from quiet to crowded quickly. Use these focused stock lists before momentum gets fully caught, while the data still matters and is under the radar for now. Get in early.

• Tap into potential income workhorses by checking a curated 4 dividend fortresses that could help support your portfolio cash flow while others are still looking around.
• Spot early movers in growth technology by scanning a hand picked 56 AI infrastructure stocks built around companies involved in data centers, chips and capacity before the crowd catches on.
• Target resilient balance sheets by running through a pre filtered list of solid balance sheet and fundamentals (12 results) that focuses on financial strength while many investors chase stories instead of numbers.

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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