CEMIG (NYSE:CIG) Stock Price Down 5.3% – Here’s Why

CEMIG (NYSE:CIG) shares dropped 5.3% on Friday . The stock traded as low as $1.88 and last traded at $1.87. Approximately 424,529 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,170,578 shares. The stock had previously closed at $1.97.

Analyst Ratings Changes

CIG has been the subject of several research analyst reports. HSBC downgraded shares of CEMIG from a “buy” rating to a “hold” rating in a research report on Friday, January 10th. Hsbc Global Res raised shares of CEMIG to a “hold” rating in a research report on Friday, January 10th.

CEMIG Trading Down 6.3 %

The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 3.43 and a beta of 1.30. The firm’s 50 day moving average is $1.87 and its 200 day moving average is $1.93. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35.

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.