Uranium-related assets have experienced notable gains recently, with Cameco Corp. (CCJ) showing a strong daily breakout on high volume and the uranium exchange-traded fund (ETF) URA reaching multi-year highs. Market analysts attribute this momentum to a shift in economic conditions, described as a regime change from Hedgeye's Quad4 to Quad2 framework, prompting investors to reduce exposure to consumer staples and increase holdings in uranium and related sectors. Investor sentiment suggests a potential bottoming in uranium prices, with expectations that prices may revisit the highs seen in early 2024 within the next 8 to 12 months. Additionally, the leading uranium producer is valued at twice its net asset value (NAV) and trades at a 25 times 2026 EV/EBITDA multiple, a valuation notably higher than that of oil stocks.