Nuclear energy stocks slumped in first half of 2026, but Cameco stands out as a buy on the dip

Industry
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Summary · why it matters

Nuclear energy stocks have slumped in the first half of 2026 after a strong 2025, with advanced reactor start-ups Oklo and NuScale Power down 27% and 30% year to date, respectively, while uranium miner Cameco is up 7% year to date but down 27% from its February peak. Oklo and NuScale have experienced larger price swings due to long implementation timelines for their technologies, with Oklo down 73% from its 52-week high and NuScale down 83%. Cameco, a mature company with high-grade mines in Canada and a 49% stake in Westinghouse, is positioned to benefit more immediately from growing uranium demand and the nuclear build-out. The long-term industry tailwinds remain in place, but advanced reactor technologies are not expected to operate at commercial scale until the 2030s.

Impact on stocks 4

Energy Transition & Power Demand± Mixed · 3 stocks
Cameco Corp
CCJ
▲ PositiveDemandrelevance

Cameco benefits from growing uranium demand and nuclear build-out as a mature uranium miner with high-grade mines and Westinghouse stake.

Oklo Inc.
OKLO
▼ NegativeTechnologyrelevance

Oklo's advanced reactor technology has long implementation timelines, not expected to operate at commercial scale until 2030s, causing stock slump.

Nuscale Power Corp
SMR
▼ NegativeTechnologyrelevance

NuScale's advanced reactor technology has long implementation timelines, not expected to operate at commercial scale until 2030s, causing stock slump.

Artificial Intelligence · 1 stocks

Theme Impact 3

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