Uranium Stocks Surge 7%... Market Cap Increases by 5 Trillion Won in One Day

Cameco Corp (NYSE: CCJ) closed at $120.68 on the New York Stock Exchange on June 2, marking a 7.19% gain in a single trading day.

Trading volume totaled roughly 2.41 million shares, and the company’s market capitalization climbed to about $53 billion (approximately KRW 70 trillion), adding some $4 billion (about KRW 5 trillion) in just one day.

In its recently released first-quarter results, Cameco reported that uranium‐segment production remains on track, earnings per share topped market forecasts, and it demonstrated strong financial flexibility with around $1.1 billion in cash plus undrawn credit facilities.

Although flooding in early May in Saskatchewan temporarily halted operations at the Key Lake mill and McArthur River mine, the company has since resumed production and reaffirmed its full‐year uranium output target of 19.5–21.5 million pounds, easing concerns over supply disruptions.

Headquartered in Saskatoon, Canada, Cameco is the world’s largest publicly traded uranium producer, mining high-grade deposits such as McArthur River and Key Lake and providing nuclear fuel services.

In 2025, Cameco joined forces with Brookfield and the U.S. government in a strategic partnership—valued at up to $80 billion (roughly KRW 100 trillion)—to expand Westinghouse nuclear technology, further cementing its role as a key nuclear‐fuel supplier amid global energy-security and decarbonization efforts.