CEMIG (NYSE:CIG) Cut to “Hold” at HSBC

HSBC cut shares of CEMIG (NYSE:CIG) from a buy rating to a hold rating in a report published on Friday, MarketBeat Ratings reports.

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

CEMIG Price Performance

CIG opened at $1.72 on Friday. 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 stock has a market capitalization of $4.91 billion, a PE ratio of 3.20 and a beta of 1.31. The stock’s 50 day moving average price is $1.90 and its 200-day moving average price is $1.95. CEMIG has a 52-week low of $1.68 and a 52-week high of $2.19.

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.