Cameco's stock surged 650% in five years due to rising uranium demand and a strategic shift toward stable nuclear services.

Cameco, a leading uranium supplier and nuclear services provider, has seen its stock rise over 650% in five years, fueled by surging uranium prices and growing global demand for clean, reliable nuclear energy. The company has diversified by acquiring a 50% stake in Westinghouse through a joint venture, adding stable infrastructure revenue and reducing reliance on commodity cycles. Strong second-quarter 2025 results, including a 43% year-over-year rise in adjusted EBITDA, reflect solid performance. While nuclear energy faces historical volatility and regulatory risks, increasing need for carbon-free baseload power is driving renewed industry momentum. Cameco’s strategic shift toward long-term services may enhance resilience, but investors should consider both growth potential and sector-specific risks.