CEMIG (NYSE:CIG) Downgraded to Hold Rating by HSBC

HSBC downgraded shares of CEMIG (NYSE:CIG) from a buy rating to a hold rating in a research report sent to investors on Friday, MarketBeat reports.

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

CEMIG Price Performance

CIG opened at $1.72 on Friday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 3.20 and a beta of 1.31. CEMIG has a 1 year low of $1.68 and a 1 year high of $2.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $1.90 and its 200 day simple moving average is $1.95.

About CEMIG

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.