In this article, we will look at the Top 10 Nuclear Energy Stocks to Invest in for the Next Decade.
The International Energy Agency (IEA) forecasts that nuclear power generation will reach an all-time high globally in 2025, building on strong recent momentum. Global nuclear generation increased by 3.5% in 2024, following a 2.1% rise in 2023. The IEA estimates that global nuclear generation will rise by 2.3% annually on average between 2025 and 2026.
Goldman Sachs projects that nuclear power growth may surpass the IEA’s estimates, driven primarily by rising investment levels. The investment bank’s analysts note that “global investment in nuclear power generation grew at a compound annual growth rate of 14% between 2020 and 2024, following almost five years of no growth in spending.” Based on this investment trajectory, Goldman Sachs analysts project that “annual reactor requirements to increase to around 164,000 tons by 2045, and this does not account for secondary demand from utilities buying to stockpile inventories, governments, or individual purchasers.”
Market performance data supports the sector’s growth potential. The MVIS Global Uranium & Nuclear Energy Index (MVNLR), which tracks companies in the global nuclear energy and uranium industries, has significantly outperformed the S&P 500. Over the past five years, the MVNLR has returned 162.13% compared to the S&P 500’s 14.89%. Year-to-date performance shows the MVNLR up 34.88%, while the broad market index has increased by 5.50%. The following analysis examines individual nuclear energy stocks positioned within this expanding market.
Our Methodology
To identify the top 10 nuclear energy stocks to invest in for the next decade, we analyzed several financial media reports and holdings from leading nuclear energy ETFs, including the VanEck Uranium and Nuclear Energy ETF (NLR), Global X Uranium ETF (URA), and Sprott Uranium Miners ETF (URNM), to establish a comprehensive list of stable and well-established companies. From this initial screening, we shortlisted companies with the highest hedge fund ownership levels as of Q1 2025, leveraging institutional investor sentiment as our primary selection criterion. The list is in ascending order.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Top Nuclear Energy Stocks to Invest in for the Next Decade
10. Ur-Energy Inc. (NYSE:URG)
Number of Hedge Fund Holding: 11
Ur-Energy Inc. (NYSE:URG) is one of the top 10 nuclear energy stocks to invest in for the next decade. Ur-Energy Inc. (NYSE American: URG) appointed Matthew D. Gili as its new president, effective June 30, as part of its succession planning and strategic expansion.
Gili, a seasoned mining executive and professional engineer, brings leadership experience from i-80 Gold, Nevada Copper, Barrick, and Rio Tinto. His appointment comes amid strong market momentum for Ur-Energy, which maintains a healthy liquidity position despite a recent cash burn.
Under his employment agreement, Gili will earn a $430,000 annual base salary and receive 175,000 stock options. He is eligible for executive benefits and protected by standard non-solicitation and non-disclosure clauses. If terminated without cause or if he resigns for good reason, he will receive a severance equal to 2.5 years of base salary. The company confirmed that there are no prior affiliations or family ties between Gili and existing leadership.
Ur-Energy Inc. (NYSE:URG) is a uranium mining company. It explores for, develops, and produces uranium, primarily through its Lost Creek in-situ recovery facility in Wyoming, USA. The company’s main product is uranium concentrate (also known as yellowcake), which is used as fuel for nuclear power plants.
9. NuScale Power Corporation (NYSE:SMR)
Number of Hedge Fund Holding: 18
NuScale Power Corporation (NYSE:SMR) is one of the top 10 nuclear energy stocks to invest in for the next decade. On June 18, the company announced breakthrough research focused on developing an integrated energy system that can clean water and produce hydrogen more efficiently.
The system has two critical capabilities. First, a single NuScale Power Module (NPM) can produce approximately 150 million gallons of clean water per day without generating carbon dioxide. Second, a scalable plant with 12 NPMs could provide desalinated water for a city of 2.3 million residents while also generating surplus power to electrify 400,000 homes.
NuScale’s innovative approach uses the leftover brine (a byproduct of the desalination process) as an industrial feedstock for hydrogen production. This hydrothermal chemical decomposition method eliminates the need for water electrolysis, resulting in reduced energy consumption, lower water usage, and lower costs.
The company said that this project is made possible by partnerships with experts at the U.S. Department of Energy’s Pacific Northwest National Laboratory (PNNL). The project aims to address critical global challenges, including water scarcity, brine remediation, and the growing demand for clean hydrogen.
NuScale Power Corporation (NYSE:SMR) is a nuclear technology company. It designs and commercializes small modular reactors (SMRs). Its flagship product is the NuScale Power Module, which uses light-water reactor technology.
8. Energy Fuels Inc. (NYSE:UUUU)
Number of Hedge Fund Holding: 21
Energy Fuels Inc. (NYSE:UUUU) is one of the top 10 nuclear energy stocks to invest in for the next decade. The company announced on June 13 that it had entered into a new equity distribution agreement. The agreement enables Energy Fuels to issue and sell common shares through an “at the market” (ATM) program—shares with an aggregate offering price of up to $300 million.
According to the statement, the agreement’s sales agents include BMO Capital Markets Corp., Canaccord Genuity LLC, Cantor Fitzgerald & Co., B. Riley Securities Inc., and H.C. Wainwright & Co., LLC. This new agreement replaces a previous offering from March 22, 2024. The company stated further that it has discretion over the use of net proceeds from the share sales. It noted, “there may be circumstances where, for sound business reasons, a reallocation of the net proceeds is necessary”. The agreement provides Energy Fuels with a mechanism to raise capital flexibly through the sale of shares.
Energy Fuels Inc. (NYSE:UUUU) is an American mining company focused on producing uranium, rare earth elements, and vanadium. It operates facilities like the White Mesa Mill in Utah, which is the only conventional uranium mill currently operating in the U.S.
7. Oklo Inc. (NYSE:OKLO)
Number of Hedge Fund Holding: 23
Oklo Inc. (NYSE:OKLO) is one of the top 10 nuclear energy stocks to invest in for the next decade. On June 25, the company announced strategic collaborations aimed at accelerating the domestic production of High-Assay Low-Enriched Uranium (HALEU).
The company partnered with Hexium, a company specializing in isotope enrichment, and TerraPower, a nuclear innovation company, to evaluate Atomic Vapor Laser Isotope Separation (AVLIS) technology for commercial-scale uranium enrichment. The collaboration includes Lawrence Livermore National Laboratory (LLNL), which is working with the three companies to assess the potential of AVLIS as a scalable uranium enrichment technology. According to Oklo, this initiative aims to develop “a validated conceptual design and technoeconomic assessment of AVLIS-based HALEU production.”
Oklo’s stock has gained over 500% this year, which, according to the CEO, is driven by three key factors: an advanced nuclear focus, AI and data center demand, and a cost and deployment edge. Jacob DeWitte, the CEO, emphasized Oklo’s role as an energy infrastructure disruptor, likening their microreactor tech to a “data center revolution” in energy.
Oklo Inc. (NYSE:OKLO) is a nuclear energy company. It develops advanced fission power plants—specifically compact, modular reactors designed to deliver clean, reliable, and affordable electricity. Its flagship product is the Aurora Powerhouse, which uses recycled nuclear waste as fuel.
6. Centrus Energy Corp. (NYSE:LEU)
Number of Hedge Fund Holding: 23
Centrus Energy Corp. (NYSE:LEU) is one of the top 10 nuclear energy stocks to invest in for the next decade. On June 26, JP Morgan initiated coverage of Centrus Energy’s stock with a “Neutral” rating. The firm also set a $148 price target on the shares.
JP Morgan’s analysts defended their decision, noting that a “sharp run-up” in Centrus Energy’s shares has already captured “much of the benefit from U.S. efforts to bolster domestic enrichment capacity.” They added that the stock has seen significant gains, more than doubling in the past six months and returning an “impressive 172% year-to-date,” trading near $174 at the time of the report. The firm noted the valuation at “roughly 34 times projected enterprise value to EBITDA – twice the one-year average,” which it described as reflecting “a period of ‘atomic’ outperformance.”
While acknowledging the potential, JP Morgan cautioned that converting Centrus’s pilot output at its Piketon, Ohio, site into full commercial production will require “multi-billion-dollar” investment. The bank is looking for “clearer commitments on potential government awards of up to $3.4 billion.” Until this funding picture becomes clearer, JP Morgan views the stock’s “risk-reward looks balanced.”
Centrus Energy Corp. (NYSE:LEU) is a nuclear fuel company. It supplies low-enriched uranium (LEU) for commercial nuclear power plants and provides technical and engineering services to both government and private clients. Its operations include the production of high-assay low-enriched uranium (HALEU), a next-generation fuel for advanced reactors.
5. Uranium Energy Corp. (NYSE:UEC)
Number of Hedge Fund Holding: 31
Uranium Energy Corp. (NYSE:UEC) is one of the top 10 nuclear energy stocks to invest in for the next decade. The company revealed on June 20 that it had acquired an additional 170 million common shares of Anfield Energy.
The transaction is a private agreement at C$0.115 per share, which brings the total value to C$19.60 million. This acquisition increased Uranium Energy’s ownership in Anfield to about 32.4% of the outstanding Anfield shares on a non-diluted basis. Before this transaction, Uranium Energy’s non-diluted stake was around 17.6%.
According to Uranium Energy, the additional Anfield shares were acquired for “investment purposes.” The company indicated that it will “continue to monitor the business, prospects, financial condition, and potential capital requirements of Anfield.” Depending on its evaluation, Uranium Energy “may from time to time in the future decrease or increase, directly or indirectly, its ownership, control or direction over securities of Anfield.”
Uranium Energy Corp. (NYSE:UEC) is a U.S.-based uranium mining and exploration company. It produces uranium and titanium concentrates through a mix of in-situ recovery (ISR) and conventional mining methods. The company operates projects across the United States, Canada, and Paraguay.
4. NexGen Energy Ltd. (NYSE:NXE)
Number of Hedge Fund Holding: 33
NexGen Energy Ltd. (NYSE:NXE) is one of the top 10 nuclear energy stocks to invest in for the next decade. On June 12, the company announced the approval of its 2025 Site Program for its wholly owned Rook I Property in the Athabasca Basin, Saskatchewan. The program is scheduled to start as early as July 2025 and is expected to complete with camp commissioning in Q1 2026.
The 2025 Site Program includes three major infrastructure projects: construction of a temporary exploration airstrip, expansion of camp facilities by adding 373 additional beds, and improvements to the 13 km Rook I access road. “These infrastructure enhancements create the conditions for a high-performing operational platform capable of fully evaluating the significant resource potential across our Rook I Property,” according to Leigh Curyer, Founder and CEO of NexGen Energy.
NexGen views this program as a “strategic acceleration in their exploration capabilities” and an “exciting strategic milestone” for its current and future activities. The infrastructure improvements are expected to “optimize safety, environmental protection, and efficiency” and create a “high-performing operational platform capable of fully evaluating the significant resource potential across our Rook I Property.” Additionally, the program prioritizes participation in Local Priority Areas, aiming to generate new employment and contracting opportunities for Indigenous and community members.
NexGen Energy Ltd. (NYSE:NXE) is a Canadian uranium development company. It owns and operates the Rook I Project in Saskatchewan’s Athabasca Basin. The company’s main product will be uranium concentrate, used as fuel for nuclear power plants.
3. BWX Technologies, Inc. (NYSE:BWXT)
Number of Hedge Fund Holding: 52
BWX Technologies, Inc. (NYSE:BWXT) is one of the top 10 nuclear energy stocks to invest in for the next decade. On June 5, Kinectrics Inc., a subsidiary of BWX Technologies, signed a contract with HIGHVOLT, a supplier of high-voltage testing systems. According to the announcement, the agreement is designed to increase Kinectrics’ high-voltage (HV) cable testing capacity in the field.
Specifically, Kinectrics will purchase an additional 10 mobile resonant test systems (RTS) from HIGHVOLT. The “multi-million-dollar investment” solidifies Kinectrics as the largest independent global provider of on-site HV cable testing services, the statement said. It stated further that the expansion is a strategic response to the anticipated growth in the HV cables market, which is “expected to quadruple” due to the increase in renewable energy construction projects. This growth is leading to a higher demand for reliable commissioning services for newly installed subsea and underground transmission networks.
David Harris, Kinectrics’ President and CEO, emphasized that while dependable HV testing tools are essential, the knowledge gained from years of field experience is equally vital. Harris highlighted that Kinectrics remains a technical leader in the sector through ongoing innovations in diagnostic methods, the frequent publication of research and technical papers, and active participation in international standards organizations such as IEC, CIGRE, and IEEE.
BWX Technologies, Inc. (NYSE:BWXT) is a specialty manufacturer and service provider in the nuclear sector. It produces nuclear components, fuels, and reactors for both government and commercial clients, including the U.S. Department of Energy and Department of Defense.
2. Cameco Corporation (NYSE:CCJ)
Number of Hedge Fund Holding: 58
Cameco Corporation (NYSE:CCJ) is one of the top 10 nuclear energy stocks to invest in for the next decade. On June 17, Desjardins lifted its price target for the company’s stock to C$105.00 from C$85.00 while maintaining a “Buy” rating on the shares. The primary basis for the adjustment was Desjardins’ updated financial model.
Cameco’s price target was raised after analysts updated their models to include a one-time $170 million boost in earnings from Westinghouse Electric’s role in building nuclear reactors at the Dukovany power plant. They also assumed there’s a 50% chance of a similar gain happening in 2026, which helped increase the company’s overall valuation.
Desjardins noted that the uranium sector has experienced recent share price appreciation, with Cameco “leading the group in performance.” As such, the research firm considers Cameco a “go-to name for uranium investors.”
Cameco Corporation (NYSE:CCJ) is a Canadian company that supplies uranium fuel and provides nuclear services for clean electricity generation. It operates through three main segments: Uranium (exploration, mining, and sale of uranium concentrate), Fuel Services (refining, conversion, and fabrication of uranium), and Westinghouse (nuclear reactor technology and services).
1. Constellation Energy Corporation (NASDAQ:CEG)
Number of Hedge Fund Holding: 83
Constellation Energy Corporation (NASDAQ:CEG) is one of the top 10 nuclear energy stocks to invest in for the next decade. On June 23, the company’s stock climbed following reports that New York state plans to build one of the first new U.S. nuclear power plants in over a generation.
Reports indicate that New York Governor Kathy Hochul directed the New York Power Authority to add at least 1 gigawatt of new nuclear power generation. The New York Power Authority is tasked with identifying a site in upstate New York and determining the reactor design, which could involve either one large reactor or multiple smaller ones. The initiative marks a significant shift in U.S. nuclear development, as only five new commercial reactors have come online since 1991.
Hochul stressed that the project could progress faster due to President Donald Trump’s recent executive orders aimed at “accelerating nuclear power development by overhauling regulations and streamlining permitting processes.” The Governor stated, “We must radically increase supply, starting now,” and added, “If we don’t increase our capacity over the next decade, we will see rolling blackouts and other disruptions.”
Constellation Energy owns or holds majority stakes in New York’s three currently operating nuclear plants, which are among the potential sites being considered for the new plant.
Constellation Energy Corporation (NASDAQ:CEG) is an energy company that produces and sells electricity, natural gas, and clean energy solutions. The company serves a broad range of customers—residential, commercial, industrial, public sector, and municipal utilities—across multiple U.S. regions, including the Mid-Atlantic, Midwest, New York, and Texas.
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