Shares of uranium miner Cameco (NYSE:CCJ) ended trading on Oct. 23 at $78.60, their lowest close since September 2025. They dropped to a fresh 52-week low in trading that day. At around $78 as I write, the stock has shed about 42% since Jan. 28, when it hit a record close of $134.09. Uranium itself, though, is in solid shape. The long-term uranium price is the benchmark for the multiyear supply contracts most of the industry runs on. It was $96.50 a pound at the end of September -- above the $95 peak it reached in 2007 and held into early 2008.
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