Up Over 55% in 2025, Is Cameco Stock the Next Big Thing?
2025-11-27 03:55:00 ET
Cameco (NYSE: CCJ) , the world's second-largest uranium miner, was a dismal investment for more than a decade. From 2011 to 2021, its revenue plunged from $2.4 billion to $1.2 billion without a single year of growth. That decline was caused by the Fukushima disaster in 2011, which drove many countries to rein in their nuclear expansion projects; the COVID-19 pandemic, which forced many miners to suspend their operations; and a weak Canadian dollar.
But by 2024, Cameco's revenue had nearly doubled to $2.3 billion. The year-end spot price for uranium, which dropped from $62.25 in 2011 to $35.00 in 2020, jumped to $72.63 in 2024. That recovery was fueled by new low-carbon initiatives, the rapid growth of the power-hungry cloud and AI markets , and geopolitical conflicts in uranium-rich regions. The previous suspension of many uranium mines and mills exacerbated that shortage and further drove up those prices.
Image source: Getty Images.
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