Uranium Market Leader Loses $4.1 Billion in Market Cap in One Day

Cameco Corp (CCJ) plunged 8.99% to close at $114.82 on the New York Stock Exchange on February 4.

In a single day, its market capitalization fell by about $4.1 billion (roughly KRW 5.5 trillion), bringing the total to approximately $50 billion (around KRW 67 trillion).

Recently, Bank of America highlighted Cameco as a leading uranium stock—one that delivered a 123% return over the past year—and named it among its top metal and mining picks for 2026. However, since early 2025 the company has faced increased volatility in its performance and production outlook due to development delays at the McArthur River and Key Lake mines, prompting downward revisions to its uranium output guidance.

Headquartered in Canada, Cameco is one of the world’s largest uranium producers. With ultra–high-grade uranium mines such as Cigar Lake and McArthur River, it is regarded as a cornerstone of the global nuclear fuel supply chain. As a company directly exposed to the expansion of nuclear power worldwide and tightening uranium markets, Cameco’s share price tends to react sharply to news of policy changes and production disruptions.