Cameco Corporation (CCJ): Top Nuclear Stock Picks by Billionaire Investors

We recently released a list of the 10 Top Nuclear Energy Stocks That Millionaires Favor Based on Their Investments In this piece, we will examine how Cameco Corporation (NYSE:CCJ) measures up against some of the top companies in the nuclear sector.

Currently, nuclear power accounts for slightly below 10% of worldwide electricity production, making it the second largest contributor to low-carbon electrical generation globally. The contribution from this sector is anticipated to increase substantially since more than 70 gigawatts of additional nuclear capability are currently being built across different nations, with over 40 countries intending to enhance nuclear energy's presence within their respective power grids. In the U.S., although nuclear facilities represent fewer than 8% of all operational capacities nationwide, they produced approximately 19% of the nation’s electric output in 2024.

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Nuclear power has become a leading contender for fueling the expanding AI industry along with its associated data centers. As per recent projections from Deloitte, the electrical needs of these data centers might increase five times by 2035, hitting around 176 gigawatts. It is anticipated that about 10 percent of this increased requirement will be fulfilled through nuclear sources. In fact, just last month, numerous major technology corporations convened during the CERAWeek event held in Houston and committed themselves to an agreement aimed at boosting global nuclear energy production threefold by mid-century.

However, the challenge lies in the fact that numerous such initiatives require several years for development, with certain ones potentially taking upwards of ten years before completion. These ventures typically involve significant financial investments running into billions of dollars and frequently encounter issues concerning schedule delays and budgetary overruns, factors that may impede their long-term profitability and market position. One promising resolution comes through Small Modular Reactors (SMRs), each boasting a maximum output capability of around 300 megawatts. These units promise faster deployment alongside potential savings due to economies of scale. Additionally, they offer the advantage of being assembled using standardized components at manufacturing facilities, thereby enhancing adaptability; they're designed flexibly enough to cater specifically to individual clients, whether it’s a large-scale data facility or extensive industrial estates. According to projections by the International Energy Agency (IEA), under favorable conditions, SMR deployments might achieve capacities totaling 80 gigawatts by 2040, representing approximately one-tenth of worldwide installed nuclear energy capabilities.

Even with an unprecedented rise in demand for nuclear energy, many stocks within the industry have experienced considerable drops during the past year because of falling uranium prices, which dropped approximately 37% since January 2024. This downturn partly comes about as a result of escalating tensions between the U.S. and Canada, the leading source of uranium supply to the United States. Additionally, expectations regarding the possible removal of sanctions against Russia—a major provider of enriched uranium to the American commercial market in both 2022 and 2023—are also thought to contribute to the lower uranium costs.

Nevertheless, the nation prohibited the entry of Russian uranium in the previous year to encourage local production. Additionally, the Department of Energy received $2.7 billion in financing aimed at fostering the expansion of America’s nuclear fuel industry. Consequently, this led to a surge where five U.S. plants located in Wyoming and Texas contributed to boosting domestic uranium output by 24% over the course of 2024. Furthermore, following President Trump’s directive for an investigation into possibly levying duties on essential minerals like uranium, financial backers are increasingly purchasing shares in American-based uranium enterprises.

A detailed view of the reactor core emphasizing the intricacies involved in the uranium power generation process.

Our Methodology

For gathering information for this article, we examined the database from Insider Monkey which tracks billionaire investments and selected the top 10 firms within the nuclear energy industry boasting the largest numbers of hedge fund backers during the fourth quarter of 2024. In cases where multiple companies were tied regarding the count of billionaire stakeholders, they were ordered based on their respective market capitalizations at the time when this content was written. Here are those rankings: Top Nuclear Energy Stocks as Identified by Billionaires .

At Insider Monkey, we have an intense focus on the stocks that hedge funds heavily invest in. This interest stems from our findings which indicate that mimicking the top stock choices made by successful hedge funds allows us to surpass market performance. Each quarter, our quarterly newsletter recommends 14 small-cap and large-cap stocks through this approach and has achieved returns totaling 275% since May 2014, significantly outpacing its benchmark by 150 percentage points. see more details here ) .

Cameco Corporation (NYSE: CCJ )

Number of Billionaire Owners: 13

Cameco Corporation (NYSE: CCJ), a leading provider of uranium fuel on a worldwide scale, has an approved production capability exceeding 53 million pounds of uranium concentrate each year. This output is supported by substantial verified resources amounting to over 464 million pounds of proven and probable mineral reserves.

Cameco Corporation (NYSE: CCJ) posted stronger-than-predicted outcomes for the fourth quarter of 2024 with an adjusted earnings per share (EPS) of $0.25, surpassing forecasts by $0.03. Additionally, the firm saw revenues jump more than 33% year-over-year (YoY), reaching $834.83 million, which exceeded predictions by $68.38 million. For the entire fiscal year 2024, Cameco experienced a significant increase in total income—up 21%, largely driven by elevated pricing. Throughout this period, the company noted that its mean selling price climbed 17% to $58.34 per pound, coupled with a growth in sales volume of 5%.

Last year, Cameco Corporation (NYSE: CCJ) produced 33.6 million pounds of uranium and anticipates reaching a total of 36 million pounds for this year in 2025. By the close of 2024, the firm had secured long-term agreements amounting to almost 220 million pounds, with numerous significant deals currently being negotiated.

Cameco Corporation (NYSE: CCJ) concluded fiscal year 2024 with $600 million in cash and cash equivalents along with $1.3 billion in total debt. In 2024, the corporation increased its yearly dividend from $0.12 per share in 2023 to $0.16 per share in 2024.

Overall, CCJ ranks 5th On our roster of top nuclear energy stocks favored by billionaire investors, although we recognize the growth prospects of CCJ, we firmly believe that AI stocks present a stronger case for achieving superior returns over a condensed timeframe. One particular AI stock has surged since the start of 2025, even as many prominent AI equities have declined by approximately 25%. For those seeking an AI investment with better potential than CCJ yet trading below five times its earnings, explore our detailed analysis presented in our latest report. cheapest AI stock .

READ NEXT: 20 Top AI Stocks You Should Consider Purchasing Today and 30 Top Stocks to Purchase Currently as Recommended by Billionaires .

Disclosure: There are no conflicts of interest. This article was initially published here. Insider Monkey .