CEMIG (NYSE:CIG) Stock Rating Lowered by HSBC

CEMIG (NYSE:CIG) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports.

Separately, Scotiabank started coverage on CEMIG in a research report on Thursday, October 31st. They issued a “sector perform” rating for the company.

CEMIG Stock Performance

Shares of NYSE:CIG opened at $1.72 on Friday. The business has a fifty day moving average of $1.90 and a 200-day moving average of $1.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $4.91 billion, a PE ratio of 3.20 and a beta of 1.31. CEMIG has a twelve month low of $1.68 and a twelve month high of $2.19.

CEMIG Company Profile

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.