In this article, we will list the 5 Best Nuclear Energy Stocks to Buy as SMRs Go Mainstream. Please visit 10 Best Nuclear Energy Stocks to Buy as SMRs Go Mainstream if you’d like to see an extended list and the methodology behind it.
5. Energy Fuels Inc. (NYSEAMERICAN:UUUU)
Energy Fuels Inc. (NYSEAMERICAN:UUUU) is one of the best nuclear energy stocks to buy as SMRs go mainstream, with a median upside potential of 28.9%.
According to analysts at Roth Capital, Energy Fuels Inc. (NYSEAMERICAN:UUUU)’s fundamentals appear to be strong even though the firm framed Q1 2026 results as mixed. Market conditions are working in favor of rare earth and uranium-focused companies, the analyst added. On May 11, 2026, the firm raised its price target to $17.0 from $15.5 and reiterated a “Neutral” rating.
Energy Fuels Inc. (NYSEAMERICAN:UUUU) announced the Q1 2026 results on May 6, 2026.
Having produced 790,000 pounds of finished uranium product, Energy Fuels Inc. (NYSEAMERICAN:UUUU) earned $35.7 million from uranium sales by selling 510,000 pounds of uranium. That helped the company narrow its net loss to $10.8 million ($0.04) from $26.3 million ($0.13) a year earlier. Following that strong operational momentum, management kept its full-year uranium sales guidance of 1.5 to 2.0 million pounds unchanged. With operational cash flow turning positive at $8.3 million during the quarter, the company’s financial health remains strong. Its balance sheet boasts $956.6 million in working capital with zero debt.
Meanwhile, Energy Fuels Inc. (NYSEAMERICAN:UUUU)’s rare earth elements business is advancing, as the quarter saw pilot-scale production of 99.9% pure terbium oxide. This marks the first time in many years that terbium has been produced domestically in the U.S. from a primary production source.
White Mesa Mill strengthened the case further, where Phase 1 heavy REE expansion advanced. The facility targets commercial-level recovery of dysprosium, terbium, and others.
Looking ahead, the company’s growth prospects look strong, as its planned acquisition of Australian Strategic Materials is expected to close as early as July 2026. Once the acquisition is completed, Energy Fuels Inc. (NYSEAMERICAN:UUUU) will gain the ability to process rare earth elements further into metals and alloys, which are needed for manufacturing advanced technologies.
Energy Fuels Inc (NYSE:UUUU) is a U.S.-based critical materials company focused on uranium, rare earth elements, heavy mineral sands, vanadium, and medical isotopes, and it owns the White Mesa Mill in Utah, the only fully licensed and operating conventional uranium mill in the U.S.
4. Centrus Energy Corp. (NYSE:LEU)
With an upside potential of 40.9%, Centrus Energy Corp. (NYSE:LEU) earns a spot on our list of the best nuclear energy stocks to buy as SMRs go mainstream.
Investors appear willing to value Centrus Energy Corp. (NYSE:LEU) based more on its long-term future growth potential than on its current earnings or short-term results, according to Roth Capital. Accordingly, the firm raised its price target on the stock from $137 to $230 and reiterated its “Neutral” rating.
Meanwhile, Centrus Energy Corp. (NYSE:LEU) released its earnings results on May 5, 2026, which Roth Capital said were above expectations.
The quarter showed revenue of $76.7 million, up 5% year-over-year, though GAAP net income fell to $10 million from $27.2 million, largely due to a $15.9 million rise in advanced technology costs tied to expansion spending. Adjusted net income came in at $23.5 million, or $1.05 per diluted share.
Even more importantly, Centrus Energy Corp. (NYSE:LEU) has $3.9 billion worth of backlog, with contracts extending as far as 2040.
During the quarter, Centrus Energy Corp. (NYSE:LEU) started a long-term investment program to expand its Oak Ridge uranium centrifuge manufacturing plant. Furthermore, it signed a strategic collaboration with Fluor for engineering and supply chain support. At the same time, it partnered with Palantir, with early AI-driven work already promising approximately $300 million in potential cost savings. The company is also exploring a joint venture with Oklo focused on HALEU deconversion services.
On the back of a strong backlog and operational momentum, management raised the full-year 2026 revenue guidance to $450 to $500 million from $425 to $475 million, with capital deployment guided at $350 to $500 million.
Centrus Energy Corp. (NYSE:LEU) is a U.S.-based supplier of enriched nuclear fuel and related services for the nuclear power industry. The company plays a critical role in the nuclear energy value chain by bridging the gap between uranium mining and power generation and supporting next-generation reactor development.
3. NexGen Energy Ltd. (NYSE:NXE)
With an upside potential of 55.9%, NexGen Energy Ltd. (NYSE:NXE) earns a spot on our list of the best nuclear energy stocks to buy as SMRs go mainstream.
On May 9, 2026, Scotiabank raised its price target on NexGen Energy Ltd. (NYSE:NXE) to CAD $22 from CAD $18, keeping an Outperform rating following Q1 2026 results, announced three days earlier.
For the quarter, NexGen Energy Ltd. (NYSE:NXE) posted a net loss of CAD $156 million (CAD $0.24 loss per share from continuing operations), compared to a CAD $50.9 million loss (CAD $0.09 per share) a year earlier. The net loss widened, reflecting the accelerating pace of investment in the Rook I Project, which is preparing to enter major construction this summer. Negative earnings are also attributable to the pre-production stage of the company.
With shares up 33% year-to-date, investor sentiment is largely driven by that construction catalyst and the ongoing exploration advancements.
On May 7, 2026, NexGen Energy Ltd. (NYSE:NXE) released the final batch of 2025 assay results from the Patterson Corridor East (PCE) discovery, located 3.5 km from the Arrow Deposit, and the intercepts were encouraging. One drill hole, named RK-25-239, found a 13-meter section containing an average uranium grade of 5.2% U₃O₈ (uranium oxide), while RK-25-240 hit 10.0 m at 3.95% U₃O₈, including 0.5 m at 33.3%. Taken together, these drilling results show uranium mineralization extending for 292 meters down the deposit’s slope underground.
Additionally, the program discovered a new area containing strong uranium mineralization at a depth of 850 meters through drill hole RK-25-257. The drill found a 4.5-meter interval with an average grade of 4.8% uranium oxide (U₃O₈), and within that, a very rich 0.5-meter section containing 33.3% U₃O₈. The smaller, distinct high-grade section was found open in most directions, meaning more uranium could still be found nearby.
The 2026 drilling program, which will involve drilling a total of 42,000 meters, is scheduled to restart during the week of May 25, 2026.
NexGen Energy Ltd. (NYSE:NXE) is a Canadian uranium developer focused on the Rook I Project in Saskatchewan, a 100%-owned development-stage asset that hosts the Arrow deposit. The company is also listed on the TSX under NXE and on the ASX under NXG.
2. NuScale Power Corporation (NYSE:SMR)
NuScale Power Corporation (NYSE:SMR) is one of the best nuclear energy stocks to buy as SMRs go mainstream, with a median upside potential of 58.3%.
NuScale Power Corporation (NYSE:SMR) reported Q1 2026 results on May 7, 2026, with the quarter proving “quieter from an announcement perspective.”
Revenue came in at just $0.6 million. That was a significant decline compared with $13.4 million in Q1 2025, as the prior-year period included revenue from the RoPower technology license agreement and Fluor’s FEED Phase 2 engineering services, both of which are now complete. Meanwhile, reported EPS came in at -$0.14, missing the -$0.11 consensus estimate.
Still, the company’s balance sheet and pipeline reflected the advancements the company is making in the SMR space.
NuScale Power Corporation (NYSE:SMR) ended Q1 with $1 billion in liquidity, which climbed above $1.2 billion by early May, providing a runway to advance the commercialization.
ENTRA1 is negotiating with the Tennessee Valley Authority (TVA) about potentially building nuclear power projects using NuScale’s small modular reactors (SMRs), with total capacity reaching up to 6 gigawatts. If completed, this would represent the biggest nuclear power expansion project ever in the United States in terms of total installed capacity. Management expects significant advancements in that area by the end of 2026.
To improve the supply and delivery of nuclear fuel for its reactors, NuScale Power Corporation (NYSE:SMR) also expanded its supply chain partnership with Framatome, a French nuclear reactor company.
Furthermore, NuScale Power Corporation (NYSE:SMR) met with 37 different suppliers to align production, logistics, and component manufacturing. And to expand its commercial presence in the heart of U.S. energy decision-making, it opened a new operations center in Houston’s Energy Corridor on April 29, 2026.
NuScale Power Corporation (NYSE:SMR) provides small modular reactor technology solutions. Its groundbreaking NuScale Power Module is a 12-module plant capable of producing up to 924 MWe of carbon-free energy.
1. NANO Nuclear Energy Inc. (NASDAQ:NNE)
NANO Nuclear Energy Inc. (NASDAQ:NNE) is one of the best nuclear energy stocks to buy as SMRs go mainstream, with a median upside potential of 66.1%.
On May 6, 2026, NANO Nuclear Energy Inc. (NASDAQ:NNE) signed a non-binding MOU with Supermicro, the global AI server and data center infrastructure leader. The agreement aims to explore the integration of NANO’s KRONOS MMR microreactors with Supermicro’s AI server racks, cooling systems, and lifecycle services. Together, the companies target self-powered, grid-independent AI data center infrastructure. Given that the work progresses well, both will deploy systems together and sell combined solutions.
The agreement is still in its early stage, with no committed revenue or deadlines. Yet the move bolsters the company’s strategic positioning, placing it at the intersection of two major long-term growth trends: advanced nuclear power development and rapid expansion of AI data center infrastructure. On the day of the announcement, NANO Nuclear Energy Inc. (NASDAQ:NNE) shares surged about 28% to roughly $29, reflecting the sharp market reaction.
That development follows the company’s recent technical and regulatory wins.
On April 28, 2026, NANO Nuclear Energy Inc. (NASDAQ:NNE) said its KRONOS microreactor design fits well within new, more flexible NRC licensing rules (Part 53 and proposed Part 57), though its first University of Illinois deployment will still be approved under the older Part 50 framework.
Meanwhile, on April 9, 2026, NANO Nuclear Energy Inc. (NASDAQ:NNE) announced that it received a DOE GAIN Voucher to work with Oak Ridge National Laboratory using NRC-recognized nuclear simulation tools (SCALE/TSUNAMI) to improve reactor safety modeling and advance pre-licensing and design development for its KRONOS microreactor system.
NANO Nuclear Energy Inc. (NASDAQ:NNE) is an advanced technology-driven nuclear energy company. Its business lines include cutting-edge portable and other microreactor technologies, nuclear fuel fabrication, nuclear fuel transportation, nuclear applications for space, and nuclear industry consulting services.
While we acknowledge the potential of NNE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NNE and that has 100x upside potential, check out our report about the cheapest AI stock.
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