# Uranium Prices Hit 19-Year High While Cameco Stock Falls

> Uranium prices hit 19-year high as Cameco stock drops despite record demand.
- Title: Uranium Prices Hit 19-Year High While Cameco Stock Falls
- Summary: Uranium prices hit 19-year high as Cameco stock drops despite record demand. Uranium prices reached a 19-year high of $96.50 per pound in September, but…
- Keywords: uranium, cameco, uranium stock, uranium prices, nuclear energy, ai companies, nuclear power, uranium long-term price forecast 2026, startups, business, Prices, Hit
- Source: Startup Fortune — https://startupfortune.com/uranium-prices-hit-a-19-year-high-while-cameco-stock-keeps-falling
- Published: 2026-10-12T14:42:53+00:00
- Read time: 1 min
- Topics: uranium, cameco, uranium stock, uranium prices, nuclear energy, ai companies, nuclear power, uranium long-term price forecast 2026, startups, business
## Uranium price hits 19-year high
Uranium prices closed September at $96.50 per pound, the highest month-end reading in Cameco's data since 1996.
## Stifel raises uranium forecast
Stifel increased its long-term uranium price forecast to $120 per pound from $105, citing market vulnerability to supply shocks.
## Cameco stock drops 3.7% for year
Cameco closed at $88.06 on October 9, down 3.7% for the year and well off its 52-week high of $135.24.
## Cameco's realized price lags spot market
Cameco's realized uranium price in Q2 was $67.79 per pound, while spot market averaged mid-$80s and ended September at $89.63.
## Utilities reluctant to lock in contracts
Utilities show 'sticker shock on pricing' and are hesitant to commit to long-term contracts at current levels despite record prices.

> sticker shock on pricing
## AI deals drive nuclear demand
AI companies signed nuclear deals committing to nearly 10 gigawatts of capacity, including Microsoft's $16 billion Three Mile Island restart.
## Kazatomprom cuts 2026 production target
Kazatomprom reduced its 2026 uranium production target by 10% due to sulfuric acid shortages and equipment delays.
## Cameco's operational risks grow
Cameco faces development delays at McArthur River and a $559 million transfer-pricing dispute with Canadian tax authorities.
## Google signs nuclear power deal
Google and Constellation Energy signed a 20-year power purchase agreement for 890 megawatts from nuclear units in Illinois, Pennsylvania, and New Jersey.
## Key takeaway

Uranium prices reached a 19-year high of $96.50 per pound in September, but Cameco stock fell 3.7% for the year due to contracts that don't pay spot prices.