The world is in the midst of a nuclear renaissance. Around the world, 75 reactors are under construction, with another 120 planned, according to the World Nuclear Association.
It will take years, decades even, to build all those reactors, and that makes nuclear energy a spectacular long-term opportunity.
One of the best ways to play it is Cameco (CCJ 0.98%). The Canadian mining company is the world's second-largest uranium miner by production.
Image source: Getty Images.
In 2025, it produced 164 million pounds of uranium, or 15% of the world's total uranium production last year. The only larger uranium miner is Kazakhstan's state-run Kazatomprom.
Cameco is also engaged in refining and producing uranium fuel, as well as engineering nuclear reactors through its 49% joint venture ownership of Westinghouse.
Prior to the Hormuz crisis, uranium was the only energy resource that had increased in value over the previous 12 months. At present, it's up 33% over the past year and has held steady in the mid-$80s over the past month.
The growth in uranium prices has been very good for Cameco, as you might imagine.
NYSE: CCJ
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Going nuclear
For 2025, Cameco generated $3.48 billion, up 11% over 2024, and its earnings per share (EPS) grew 237% from $0.40 to $1.35.
The company also has a very healthy balance sheet with a debt-to-equity ratio of 0.14, and it has a net profit margin of 16.9%. That might not be impressive for a tech stock, but in the capital-intensive mining industry, it sure is.
If you're looking for a way to play the global nuclear renaissance over the next decade or longer, Cameco is one of the best set-it-and-forget-it plays out there.
