This week has seen notable developments in the nuclear energy sector, particularly involving Cameco and Constellation Energy. Cameco’s shares have increased by 5%, and Constellation is set to report its earnings tomorrow.
Cameco’s Strong Financial Performance
Cameco delivered impressive results for the fourth quarter of 2025. The company’s earnings per share (EPS) reached $0.37, exceeding consensus estimates by 14%. Revenue stood at $877 million, marking a 9% surprise over projections.
Initially, Cameco’s share price dipped after the report. However, it rebounded sharply, increasing from a low of $112.94 to a current price of $121.35.
Stock Performance and Key Metrics
| Ticker | Company | Weekly Change | Year-to-Date Change |
|---|---|---|---|
| CCJ | Cameco | +5.08% | +29.66% |
| NRG | NRG Energy | +3.39% | +12.26% |
| CEG | Constellation Energy | +1.65% | -17.00% |
| VST | Vistra | -1.99% | +4.18% |
| SMR | NuScale Power | -12.58% | -11.71% |
| SPY | S&P 500 | +0.15% | +0.13% |
Factors Fueling Cameco’s Growth
A significant contributor to Cameco’s success is its 49% stake in Westinghouse, resulting in an adjusted EBITDA of $780 million CAD. This figure represents a 61% increase from the previous year. Moreover, uranium prices saw a rise of 9%, achieving $91.44 CAD per pound. Consequently, Cameco reported full-year net earnings of $590 million CAD, a substantial rise from $172 million in 2024.
CEO Tim Gitzel noted the critical role of nuclear energy in solving long-term global energy issues, driven by a shift towards electrification and enhanced energy security.
Constellation Energy’s Anticipated Earnings Report
Constellation Energy’s shares rose by 1.65% during the week, reaching $293.20. This increase is linked to ongoing discussions about direct power agreements between nuclear suppliers and data centers, including a key deal between Constellation and CyrusOne.
Major financial institutions such as Wells Fargo and Barclays have reaffirmed their support for Constellation, maintaining buy ratings with an optimistic price target of $460.
Market Overview Amid Rising Utility Investments
The utility sector is ramping up capital expenditures in response to growing demand, particularly from data centers. Notably, Southern Company has increased its investment plans by 7%. Similarly, Evergy has raised its capital investments by 24%, totaling $21.6 billion after securing significant contracts with major tech firms.
Despite the uptick, Constellation faces challenges, down 17% for the year. Investors are eagerly awaiting the upcoming earnings report, expected tomorrow morning. Analysts predict adjusted earnings of $2.25 per share, which may further impact market sentiment.
