5 Most Profitable Canadian Stocks to Buy Now

4. Cameco Corporation (NYSE:CCJ)

On March 2, Cameco Corporation (NYSE:CCJ) presented its outlook at the 47th Annual Raymond James Institutional Investor Conference, with the company pointing out the nuclear energy market’s solid long-term fundamentals.

Cameco Corporation (NYSE:CCJ) stressed a tightening supply-demand balance, adding that 3.1 billion pounds of uranium demand will stay uncontracted through 2045, with substantial supply gaps. A lack of investment and dependence on Russian supply raises further risks, potentially supporting higher prices.

Moreover, the company’s MacArthur River mine is projected to produce 14.5-16 million pounds this year, with potential for an increase in critical assets. Cameco’s stake in Westinghouse Electric Company also has the potential to generate $400-600 million in EBITDA per reactor from new build projects.

Cameco Corporation (NYSE:CCJ) is one of the world’s largest uranium suppliers, with operations anchored by high-grade reserves and low-cost production. The company also maintains exposure across the nuclear fuel cycle through strategic investments, including stakes in Westinghouse Electric Company and Global Laser Enrichment.