S&P/ASX 200 Index (ASX: XJO) uranium shares are benefitting from increasing adoption of nuclear power as part of the energy transition.
Many nations intend to build small modular nuclear reactors to create a new and low-emissions power source for domestic electricity.
In an article, Anna Wu, a senior associate in cross-asset investment research at VanEck, said:
An important tailwind for nuclear energy is the renewed support from many governments.
Following the Fukushima nuclear accident in 2011, many countries deprioritised nuclear energy in favour of other sources.
However, in recent years, many have reversed their stance or affirmed their commitment, recognising the critical importance of nuclear energy in the power mix…
Wu said a boom is afoot in uranium mining and nuclear energy infrastructure, commenting:
Demand for low carbon, efficient energy sources, primarily driven by the artificial intelligence sector, has resulted in a recent boom for uranium miners and nuclear energy infrastructure sectors.
Some of the companies within the markets helped drive global equity markets in 2025 and this could continue into 2026.
On The Bull this week, two experts revealed their ratings on two ASX 200 uranium shares.
Let's take a look.
ASX 200 uranium share to buy
Nexgen Energy (Canada) CDI (ASX: NXG)
Nexgen Energy shares are $19.39, up 4.7% on Thursday and up 88% over the past year.
The Canadian uranium explorer is primarily focused on developing its Rook I Project into the largest, low-cost uranium mine in the world.
Rook I is the largest development-stage uranium project in Canada. Nexgen uncovered the high-grade Arrow Deposit in 2014, followed by Bow in 2015, the Cannon and Harpoon deposits in 2016, South Arrow in 2017, and Patterson Corridor East in 2024.
Stuart Bromley from Medallion Financial Group has a buy rating on this ASX 200 uranium share.
Bromley explains:
NexGen continues its journey to become a long life and low cost uranium producer in mining friendly Canada, a geopolitically stable country.
The company recently revealed the Patterson Corridor East discovery is expanding rapidly on multiple fronts.
Vertical and lateral growth materially increases the mineralised footprint and leaves potential additional discoveries open at depth and along strike — precisely what the market wants from a basin-scale uranium play.
Bromley sees tailwinds for Nexgen shares in the new year.
With a large drilling program underway and broader uranium fundamentals improving, NXG remains well positioned among global peers.
ASX 200 uranium stock to sell
Boss Energy Ltd (ASX: BOE)
Boss Energy shares are $1.96, down 1% today and down 35% over the past 12 months.
John Athanasiou from Red Leaf Securities has a sell rating on Boss Energy shares.
Boss Energy owns the Honeymoon Project in South Australia and has a 30% stake in the Alta Mesa Project in South Texas, US.
Athanasiou says:
Boss Energy remains highly leveraged to uranium market sentiment, with its valuation reflecting optimistic production assumptions and pricing scenarios.
Any operational delays or cost over-runs could impact returns.
In our view, companies with clearer earnings visibility are a more appealing alternative.
Athanasiou noted that Boss Energy shares have fallen significantly from $4.48 apiece on 1 July 2025.
The shares may remain under pressure in what can be a volatile sector.
