CEMIG (NYSE:CIG) Stock Rating Lowered by HSBC

CEMIG (NYSE:CIG) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a report released on Friday, MarketBeat.com reports.

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

CEMIG Stock Down 2.5 %

Shares of CEMIG stock opened at $1.79 on Friday. CEMIG has a 1 year low of $1.68 and a 1 year high of $2.19. The company has a market cap of $5.11 billion, a P/E ratio of 3.33 and a beta of 1.31. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $1.90 and a 200 day moving average price of $1.95.

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.