Why could Cameco soar in the coming years?

The context: rising nuclear energy

After years of stagnation, nuclear energy is back. And it's no coincidence. Governments and utility companies are seeking reliable clean energy, while data centers need electricity 24/7 to power AI servers.

This resurgence has put companies in the sector under the spotlight. But if I had to choose a uranium play today, it would be Cameco (NYSE: CCJ).

The key factor: uranium scarcity in the West

Cameco is one of the largest uranium producers in the world. Here is the crucial point: demand is rising, but supply is lagging.

• More countries are building nuclear reactors → more demand for fuel
• Decades of underinvestment in new mines → growing gap between current and necessary production
• Result: scarce uranium outside of Russia = pricing power for producers like Cameco

Numbers that Speak

In Q3, although sales volume declined, average realized prices increased. The company keeps the net margin under control while capturing future upside.

Cameco's strategy is clear: to gradually add sales to take advantage of when uranium prices rise more ( as they stated in their quarterly report ). Their main assets —McArthur River and Cigar Lake— have high-grade ore and low production costs. Higher prices mean greater profitability.

Is the parabolic move guaranteed?

No. But if the future is nuclear, Cameco is positioned to grow. The constricted supply of uranium + rising demand = structural tailwind for established producers.