Nuclear Stocks Explode Higher on Massive Nuclear Power Deal Buzz

This article first appeared on GuruFocus.

Nuclear-related stocks jumped sharply on Tuesday after reports that the U.S. government and industry partners struck a pact to pursue roughly $80 billion of new Westinghouse reactor projects.

Cameco (NYSE:CCJ) led the move, surging about 21% to a new all-time high on the news.

Broad gains swept the sector. Uranium Royalty (NASDAQ:UROY) climbed about 17%, Uranium Energy (UEC) rose about 13% and NexGen Energy (NXE) advanced about 12%. Denison Mines (DNN) gained about 11% while Nuscale Power (SMR) moved up about 10%.

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Other winners included Ur-Energy (URG), Energy Fuels (UUUU) and Nano Nuclear Energy (NNE), which each rose by roughly mid-single digits. Lightbridge (NASDAQ:LTBR) and Centrus Energy (LEU) also posted notable gains, and Oklo (NYSE:OKLO) finished higher by about 3%.

It remains unclear whether federal funds will directly cover any portion of the $80 billion. A Cameco spokesperson told Barron's that many details need to be finalized, and the parties expect to negotiate definitive agreements to replace the current term sheet, the company said.

Market analysts said the pact could lift long-term uranium demand and accelerate domestic reactor supply chains, though financing, contracts and regulatory reviews will determine how quickly projects advance.

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