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 note released on Friday morning, Marketbeat.com reports.

Separately, Scotiabank started coverage on shares of CEMIG in a 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 stock has a market cap of $4.91 billion, a price-to-earnings ratio of 3.20 and a beta of 1.31. The stock’s 50-day moving average is $1.90 and its 200 day moving average is $1.95. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28. CEMIG has a 1-year low of $1.68 and a 1-year 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.