Is Cameco Stock a Buy Now?

Shares of Cameco (CCJ) have surged more than 650% over the past five years, with a 200% gain in the last three years alone. The uranium miner and nuclear fuel processor has recently expanded its business by acquiring a 50% stake in Westinghouse, a nuclear power plant designer and service provider. This strategic MOVE aims to balance the volatility of its commodity-driven uranium operations with the steadier cash flows from Westinghouse's services.

The company's fortunes remain tightly tied to the nuclear power industry, though its recent diversification could mitigate some of the cyclical risks. Investors bullish on nuclear energy's long-term prospects may find Cameco an attractive play, while others might caution against entering at current elevated valuations.