Cameco (NYSE: CCJ) is a supplier to the nuclear power industry, with a long history of mining and processing uranium. But in late 2023, Cameco partnered with Brookfield Asset Management (NYSE: BAM) and Brookfield Renewable Partners (NYSE: BEP) to buy Westinghouse. Cameco now owns 49% of Westinghouse, one of the world's largest service providers to the nuclear power industry. Here's why it is such a big deal, highlighted by some recent positive news for Westinghouse. As a miner, Cameco is largely at the mercy of commodity markets for its revenues and earnings. When uranium prices are high, Cameco's business will perform well. When uranium prices are low, the company can fall into the red. To be fair, Cameco uses long-term contracts to mitigate the inherent volatility of its business, but only to a certain extent. The goal of creating an even more stable business is likely why it bought 49% of Westinghouse. Image source: Getty Images.
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