Uranium Leader Drops Over 5% in a Day, Market Cap Vanishes by 3 Trillion Won

Cameco, the leading uranium stock, closed down 5.29% at $116.02 on the New York Stock Exchange, with a trading volume of 1.68 million shares and a market capitalization of approximately $50.5 billion (around ₩70 trillion). In a single day, the company erased roughly $2.5 billion in market value—equivalent to about ₩3.5 trillion.

The firm recently signed a long-term agreement with India’s Department of Atomic Energy to supply about 22 million pounds of uranium concentrate from 2027 through 2035. The contract is valued at approximately $2.6 billion (around ₩3.6 trillion). Cameco has scheduled its first-quarter 2026 earnings release and conference call for May 5 (local time). Following a strong analyst outlook and a sharp share-price rally in early April, the stock has entered a corrective phase.

Headquartered in Canada, Cameco is one of the world’s largest uranium producers and suppliers. The company focuses on selling nuclear-fuel uranium under long-term contracts, benefiting from rising global nuclear-power demand. By operating major mines such as McArthur River and strictly managing output, Cameco has bolstered its pricing power amid a structurally undersupplied uranium market.