Evaluating Cameco (CCJ) Stock's Actual Performance: What's Behind the Phenomenal Returns?

• Cameco banal has hugely outperformed the S&P 500 successful the past 5 years.

• This could conscionable beryllium the opening of different bull tally arsenic request for atomic vigor explodes.

• 10 stocks we similar amended than Cameco ›

If you've spent immoderate clip pursuing the atomic vigor abstraction oregon investing successful uranium stocks, you've astir surely travel crossed Cameco (NYSE: CCJ). It's among the world's largest miners of uranium, a cardinal atomic fuel.

Cameco stock, however, remained comparatively level for respective years until the aboriginal 2020s owed to the lingering effects of the 2011 Fukushima Daiichi disaster, which forced Japan to unopen down each 54 of its atomic reactors and importantly wounded request for uranium, a cardinal atomic fuel. Major uranium producers similar Kazatomprom and Cameco slashed production, partially to equilibrium the oversupplied marketplace and enactment uranium prices.

Fast-forward to today, and Cameco banal has delivered blockbuster returns for investors who held connected to the banal patiently implicit the years.

Cameco was ever a top-quality institution with unmatched scale, marketplace leadership, beardown financials, and a accordant dividend way grounds contempt the industry's volatility. Yet, adjacent prime companies tin underperform if the extremity markets aren't favorable. Zoom out, and the fundamentals volition yet amusement up successful the banal price, rewarding shareholders.

That's precisely what's happened with Cameco stock, arsenic you'll recognize erstwhile you measure the stock's show successful caller years.

Cameco has perfectly crushed the S&P 500 (SNPINDEX: ^GSPC) implicit time, whether you look backmost one, three, oregon 5 years.

Data source: Ycharts.

Between 2021 and 2024, uranium prices much than tripled to implicit $100 per pound, driven by a shortage aft years of underinvestment and debased production, arsenic good arsenic geopolitical factors specified arsenic the U.S. prohibition connected uranium imports from Russia successful 2024.

In between, Cameco made 1 of its smartest moves successful past by acquiring a 49% involvement successful Westinghouse Electric successful November 2023, with Brookfield Renewable Partners buying the remaining involvement with its organization partners. Since Westinghouse designs precocious atomic reactors and specializes successful indispensable atomic works components, arsenic good arsenic attraction and servicing of reactors, a involvement successful the institution has efficaciously made Cameco a vertically integrated atomic vigor giant.

That determination is paying disconnected handsomely for Cameco. In October 2025, the U.S. authorities signed a large concern with Cameco and Brookfield Asset Management to concern and o.k. caller Westinghouse reactors worthy astatine slightest $80 cardinal to boost the home atomic vigor industry. Cameco shares started to emergence soon aft President Donald Trump signed enforcement orders successful May outlining ambitious plans to quadruple America's atomic vigor capableness by 2050. The uranium banal has logged implicit 80% gains successful 2025, but there's a batch much to come.