Canada / US / Kazakhstan · Power & Cooling
Uranium & Enrichment
Western enrichment capacity is thin and Russian supply is being phased out. Conversion and enrichment, not mined uranium, are the tightest steps.
Mine→Conversion→Enrichment→Fuel fabrication
76
Tightness score ⓘ
#15 of 56
▲ Tightening
Lead time
24–48 mo
Theme 1M
−17.9%% in uptrend
0%Metric to watch
Term uranium price, SWU pricing, and Centrus/Urenco expansion milestones.
What would prove us wrong
Weakens if enrichment expansions arrive early and SWU prices fall.
Fuel cycle theme performance
Equal-weight · rebased 100 · 1YStocks we track
Who controls this bottleneck
Roles, not recommendations. Delayed prices; local currency.
| Stock | Role | Listing | Last | 1D | 1M | 3M | YTD | Off 52w high | Trend | Next earnings |
|---|---|---|---|---|---|---|---|---|---|---|
| CCJ Cameco |
Uranium, conversion and Westinghouse stake | NYSE Canada |
$79.25 | +0.83% | −10.0% | −8.9% | −13.4% | −40.9% | 2026-10-30 | |
| LEU Centrus Energy |
US enrichment incl. HALEU | NYSE US |
$99.67 | −2.71% | −32.2% | −41.2% | −58.9% | −74.5% | 2026-11-04 | |
| NXE NexGen Energy |
Large development-stage uranium mine | NYSE Canada |
$8.31 | +1.96% | −9.6% | −9.5% | −9.7% | −40.3% | 2026-11-03 | |
| UEC Uranium Energy |
US uranium production and conversion plans | NYSE US |
$7.46 | +1.50% | −20.7% | −21.0% | −36.1% | −63.0% | 2026-12-08 | |
| DNN Denison Mines |
Athabasca uranium development | NYSE Canada |
$2.19 | +1.15% | −17.2% | −20.2% | −17.5% | −49.8% | 2026-11-03 |