10 Best Uranium Stocks to Invest in Now

1. Cameco Corporation (NYSE:CCJ)

Number of Hedge Fund Holders: 60

Cameco Corporation (NYSE:CCJ) is one of the largest uranium producers in the world, with operations spanning mining, refining, and fuel fabrication. The company operates key assets such as the Cigar Lake and McArthur River mines in Canada. Cameco Corporation (NYSE:CCJ) supplies uranium fuel to nuclear reactors worldwide and plays a critical role in global clean energy infrastructure.

Cameco Corporation (NYSE:CCJ) is focusing on optimizing its Tier 1 assets to enhance operational efficiency and reduce costs. The company’s MacArthur River and Key Lake, located in Saskatchewan, are among the world’s lowest-cost and highest-grade uranium mines. Through a series of automation and digitization projects, Cameco Corporation (NYSE:CCJ) has significantly improved production at these sites. These investments were made during a period of market downturn and have paid off by bending the cost curve and positioning the company to capitalize on rising uranium prices.

Furthermore, Cameco Corporation (NYSE:CCJ) is actively evaluating the potential to expand its MacArthur River and Key Lake operations from 18 million pounds per year to a license capacity of up to 25 million pounds per year. This strategic move is driven by the growing demand for uranium and the need to secure long-term contracts. The company is leveraging its existing infrastructure and expertise to explore cost-effective ways to increase production without significant additional capital expenditure.

While we acknowledge the potential of Cameco Corporation (NYSE:CCJ) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CCJ but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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