- Energy Fuels' Uranium Revenues Surge 112% in Q126: More Upside Ahead?
May 13, 2026
Energy Fuels UUUU reported a solid 112% year-over-year increase in its first-quarter 2026 revenues to $35.8 million, mainly attributed to uranium sales.
During the quarter, UUUU sold 510,000 pounds of uranium at an average realized price of $70.04 per pound. This included 100,000 pounds sold in the spot market at a weighted average realized price of $95.88 per pound, while the remaining 410,000 pounds were sold under long-term contracts at a weighted average realized price of $63.74 per pound.
Energy Fuels had not sold any uranium concentrates in the year-ago quarter. Last year, revenues were mainly supported by heavy mineral sands (HMS) operations from the Kwale Project. Since mining at Kwale has concluded, it no longer contributes to UUUU’s results.
In 2025, the company’s uranium revenues had increased 31% year over year to $50.1 million. Energy Fuels had sold 650,000 pounds of uranium in 2025 at an average realized price of $74.21 per pound. However, due to the 60% decline in Heavy Mineral Sands revenues following the completion of mining activities at Kwale, the company reported a 16% decline in total revenues to $65.9 million in 2025.
In 2026, Energy Fuels expects to mine 2-2.5 million pounds of uranium in 2026, and process between 1.5 million and 2.5 million pounds of finished uranium. Sales are projected at 1.5-2 million pounds under existing contracts and spot market sales.
As of the first-quarter 2026-end, Energy Fuels held 1.1 million pounds of finished uranium and a total of 2.24 million pounds of finished and contained inventory. The company currently has six long-term contracts with U.S utilities. These agreements cover deliveries from 2026 to 2032, with 3.21 million pounds of committed base sales and potential total deliveries ranging from 3.71 million to 5.29 million pounds, depending on customer options.
Existing inventories, purchases and new production will be sufficient to meet the company’s contract requirements through 2026 and over the life of the supply contracts. The company also intends to make discretionary spot sales in 2026 and beyond, to capitalize on higher uranium prices.
Looking ahead, UUUU’s revenues are expected to improve, supported by higher uranium production volumes and a growing contribution from long-term contracts. Upside potential remains tied to stronger uranium prices and increased spot market activity.
The Zacks Consensus Estimate for Energy Fuels’ 2026 revenues implies 117% growth and growth of 57.6% for 2027 revenues.
Revenue Performances of Peers in 2025
Cameco Corporation’s CCJ total revenues were up 7% year over year to CAD 845 million ($616 million). Cameco’s uranium revenues increased 15% to CAD712 million ($520 million) on higher volumes and prices. While the average U.S. dollar spot price for uranium increased 34% on a year-over-year basis, the Canadian dollar average realized price rose 2% due to the impact of fixed-price contracts compared with 2025 as well as the lagging impact of spot price changes on the portfolio.
Story Continues
The Fuel Services segment reported a 1% dip in revenues to CAD 134 million ($98 million), with higher volumes being offset by a 17% decline in average realized prices.
Centrus Energy Corp. LEU posted revenues of $76.7 million for the quarter compared with $73.1 million in the year-ago quarter.
Revenues from the LEU segment were $44.6 million, a 13% decline year over year. Separative work units (SWU) revenues decreased by $9.7 million as a result of a 47% decrease in the volume of SWU sold, partially offset by a 52% increase in the average price of SWU sold. Centrus Energy reported uranium revenues of $3 million for the quarter. Revenues from the Technical Solutions segment were $32.1 million, which came in 47% higher than year-ago levels.
UUUU’s Price Performance, Valuation & Estimates
Energy Fuels shares have gained 363.5% in a year compared with the industry’s 92.1% growth. During this time, the Basic Materials sector has risen 47.4%, while the S&P 500 has gained 30.4%.Zacks Investment Research
Image Source: Zacks Investment Research
UUUU is trading at a forward 12-month price/sales multiple of 28.29X, a significant premium to the industry’s 4.70X.Zacks Investment Research
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Energy Fuels’ fiscal 2026 earnings is a loss of 14 cents per share. The 2027 estimate is at earnings of six cents per share. The earnings estimates for UUUU for both 2026 and 2027 have moved down over the past 60 days. This is shown in the chart below.Zacks Investment Research
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Cameco Corporation (CCJ) : Free Stock Analysis Report
Energy Fuels Inc (UUUU) : Free Stock Analysis Report
Centrus Energy Corp. (LEU) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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- This Inflation ETF Is Beating the Market. Here’s the Catch.
May 12, 2026
The Horizon Kinetics Inflation Beneficiaries ETF has surged this year as oil and commodity prices climbed. But a reversal in energy markets could hit the fund hard.
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- US considering financing billions of dollars in long-lead time parts of nuclear plants, NEI says
May 12, 2026 · reuters.com
The U.S. Department of Energy is considering a plan to finance billions of dollars for components of large nuclear reactors that can take a long time to secure, the head of the industry group Nuclear Energy Institute said on Tuesday.
- Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Monday as Trump Rejects Reported Iran Proposal
May 11, 2026
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1% and the actively tr
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- Cameco Eyes Nuclear Capacity Boom While Valuation Risks Remain
May 11, 2026
Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St.
Cameco highlighted expanding global commitments to nuclear power at its recent annual meeting, including nearly 40 countries pledging to triple nuclear capacity by 2050. The company outlined a deeper alliance with Westinghouse to cover more of the nuclear fuel cycle. Management framed these developments as positioning Cameco, TSX:CCO, for a larger role in long term nuclear supply.
Cameco, TSX:CCO, put these announcements in context for shareholders against a CA$159.98 share price and very large 5 year returns of 560.5%. The stock is up 18.2% year to date and 124.1% over the past 12 months, with shorter term moves of down 0.8% over 7 days and down 0.5% over 30 days looking more muted. For investors, the mix of strong multi year performance and recent consolidation may sharpen focus on what the new nuclear commitments could mean over a longer horizon.
The pledge by nearly 40 countries to pursue a tripling of nuclear capacity by 2050, paired with Cameco’s closer ties to Westinghouse, signals a potential shift in how nuclear demand could evolve. If governments follow through on these targets, fuel suppliers and services providers like Cameco could see the nuclear segment play a larger role in their future business profiles. Readers may want to watch how Cameco translates these policy commitments into contracts, volumes and capital allocation choices over time.
Stay updated on the most important news stories for Cameco by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Cameco.TSX:CCO Earnings & Revenue Growth as at May 2026
📰 Beyond the headline: 0 risks and 2 things going right for Cameco that every investor should see.
Quick Assessment
⚖️ Price vs Analyst Target: At CA$159.98, the share price sits about 11% below the CA$179.41 analyst target range midpoint and within a CA$150 to CA$200 target band. ❌ Simply Wall St Valuation: Shares are described as trading 97.5% above estimated fair value, which flags a rich valuation. ❌ Recent Momentum: The stock is down 0.5% over 30 days, a slight pause after very large multi year gains.
There is only one way to know the right time to buy, sell or hold Cameco. Head to the Simply Wall St's company report for the latest analysis of Cameco's Fair Value..
Key Considerations
📊 Global pledges to triple nuclear capacity and the Westinghouse alliance reinforce Cameco's role across more of the fuel cycle, which investors may see as supportive for long term demand visibility. 📊 Watch how the company converts these commitments into booked contracts, utilization of existing assets, and any updates to capital spending plans. ⚠️ With a P/E of 107.1 versus an industry average of 21.5 and a 97.5% premium to estimated fair value, valuation risk is front and center if expectations change.
Story Continues
Dig Deeper
For the full picture including more risks and rewards, check out the complete Cameco analysis. Alternatively, you can check out the community page for Cameco to see how other investors believe this latest news will impact the company's narrative.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include CCO.TO.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Update: Cameco Down 1.7% In US Premarket After Providing Northern Saskatchewan Ops Update; Adds National Bk Commentary
May 11, 2026
(Adding National Bank commentary in the fourth paragraph and updates share price in the headline and
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- Cameco Down 1% In US Premarket After Providing Northern Saskatchewan Operations Update
May 11, 2026
Cameco (CCO.TO; NYSE: CCJ) was down 1% at last look in US premarket trade on Monday after it provide
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- Partnerships, Positive Sentiment Boost U.S. Nuclear
May 11, 2026 · etftrends.com
The nuclear industry has seen a recent flurry of announcements, headlined by two major industry partnerships to rapidly deploy new reactors. These exciting developments come against the backdrop of a new national poll showing increased positive sentiment towards nuclear energy.
- Northern Saskatchewan Operations Update
May 11, 2026
All amounts in Canadian dollars unless specified otherwise.
SASKATOON, Saskatchewan, May 11, 2026--(BUSINESS WIRE)--Cameco (TSX: CCO; NYSE: CCJ) today provided an operational update for our northern Saskatchewan sites amidst flooding in the region, which is impacting roadways.
Our northern Saskatchewan sites are not directly impacted by flood waters. However, flooding has caused the collapse of the Smoothstone River Bridge, which is on the primary route we use to transport supplies to the McArthur River and Key Lake sites, and there are restrictions in place on the use of an alternative roadway. We are in regular contact with the Saskatchewan Ministry of Highways, and we are working with our sites to minimize the impact of delivery disruptions. However, we have temporarily halted production activities at Key Lake mill and reduced activity at McArthur River mine until the normal delivery of critical operating materials can resume. The timeline for the resumption of normal deliveries is currently unknown.
At present, the Cigar Lake mine continues to operate, and our consolidated annual production plan remains unchanged. Depending on the duration of the road restrictions and our ability to make deliveries of critical operating materials, there is a risk that our 2026 production outlook for the McArthur River/Key Lake operation could be impacted.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.
www.cameco.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20260510315366/en/
Contacts
Investor inquiries Cory Kos
306-716-6782
cory_kos@cameco.com
Media inquiries Veronica Baker
306-385-5541
veronica_baker@cameco.com
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- Northern Saskatchewan Operations Update
May 11, 2026 · businesswire.com
SASKATOON, Saskatchewan--(BUSINESS WIRE)---- $CCJ #cameco--Cameco (TSX: CCO; NYSE: CCJ) today provided an operational update for our northern Saskatchewan sites amidst flooding in the region, which is impacting roadways. Our northern Saskatchewan sites are not directly impacted by flood waters. However, flooding has caused the collapse of the Smoothstone River Bridge, which is on the primary route we use to transport supplies to the McArthur River and Key Lake sites, and there are restrictions in place on the u.
