Should You Forget ExxonMobil and Buy Cameco Stock Instead?

ExxonMobil stock has surged 47% this year driven by elevated oil prices, trading at a reasonable 13.3x forward P/E. However, Cameco, a uranium miner down 11% in 2026, may offer better long-term value as nuclear energy demand rises while uranium supply remains constrained. With significant uncommitted production for 2029-2030 and potential uranium price increases to $130/pound, Cameco could deliver faster earnings growth than currently forecasted.