3 Top Nuclear Stocks to Buy Right Now

Nuclear energy has been enjoying something of a renaissance in recent years. The United States, Japan, South Korea, China, and India are all investing heavily in expanding their nuclear reactor fleets and/or resuscitating decommissioned reactors.

Thus far, that demand for nuclear power was in large part driven by the power needs of data centers.

But the current volatility with oil due to the possibility of the Strait of Hormuz being closed or even possibly mined likely has many more countries looking into more nuclear power if they weren't already.

Fortunately for investors tired of oil volatility, there are several companies operating in the nuclear industry that are worth a look. Here are some of the best.

Image source: Getty Images.

Fueling the future

Up first is Canada's Cameco (NYSE: CCJ), which is one of the largest uranium miners in the world.

It was responsible for 15% of all the uranium produced globally last year. It's the second-largest uranium miner in the world, behind only Kazatomprom, Kazakhstan's state-run miner.

Cameco operates both the largest high-grade uranium mine in the world at McArthur River and has one of the highest-grade uranium mines in the world at Cigar Lake.

On the back of uranium's 34% price growth over the past year, Cameco generated revenue of $3.4 billion, up 11% over 2024. It's also worth nothing that prior to the Iran conflict, uranium was the only energy resource that had gone up over the past year.

And, for operating in an industry as capital-intensive as mining is, Cameco still manages a net profit margin of 16.9% and has a very healthy debt-to-equity ratio of 0.14.

But Cameco does more than just mine uranium, though that is the core of its business and where it generates the bulk of its revenue.

The company also operates a uranium refinery and fuel production facilities, and it holds 49% of Westinghouse.

Westinghouse, which Cameco holds as a joint venture with Brookfield Asset Management, is an engineering company that designs and builds nuclear reactors like the AP1000, which is the most advanced commercially available reactor on the market.

With Cameco you have an investment in almost every part of the nuclear fuel production cycle, from the mines to the reactors to the uranium powers.

Pint-sized power plants

One of the most interesting developments in nuclear technology in recent years has been small modular reactors (SMRs), which are miniaturized nuclear power plants that could potentially power data center clusters and remote facilities.

And one of the best companies working on SMRs has over seven decades of experience building small-scale nuclear reactors: BWX Technologies (NYSE: BWXT).

Since the 1950s, when it designed components for America's first nuclear submarine, BWX has produced over 400 naval nuclear reactors. And, while there are currently no SMRs up and running anywhere in the world, BWX's BANR power plant is one of the most promising prototypes and would be capable of generating 50 megawatts of power from a factory-built plant a fraction of the size of a conventional nuclear plant.

There are other SMR companies developing the technology, but many of them are small companies that are solely focused on SMR technology. For BWX it's a project and not the core of its business.

So, BWX has reliable and growing revenue and is not reliant on an influx of investor dollars or a contract coming through to build its SMRs. That makes it a less risky prospect than pure-play SMR companies.

Speaking of, that revenue came in at $3.19 billion last year, up 18% over 2024 and the company's earnings per share (EPS) grew 20% over the same period. The company also maintains a strong net margin of 10.3%.

BWX is a leader in small reactor technology and a safer way to play the potential of SMRs than many of its competitors.

Star power

Finally, there's Constellation Energy (NASDAQ: CEG), which is the largest green energy producer in the United States and the country's largest producer of nuclear power.

There are currently 94 nuclear reactors in the United States spread across 54 power plants that collectively generate 20% of the country's electricity. Constellation operates 21 of them, or a little over 1/5 of America's entire nuclear reactor fleet.

For 2025, Constellation saw a solid revenue increase of 8% over 2024 and the company's adjusted operating EPS also grew 8%. It also maintains a net margin of 9.1% and pays a dividend that yields 0.83% at current prices.

And, the company announced a 10% increase in its dividend per share at the end of 2025 with another 10% increase planned this year.

With these three stocks, you give your portfolio exposure to every part of the nuclear industry, from the uranium mine to the reactor to the generation of power, and you'll be set to profit from nuclear energy's renaissance.

James Hires has positions in BWX Technologies and Cameco. The Motley Fool has positions in and recommends BWX Technologies, Brookfield Asset Management, Cameco, and Constellation Energy. The Motley Fool has a disclosure policy.