CEMIG (CIG) Shares Gap Down to $3.83

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Shares of CEMIG (NYSE:CIG) gapped down prior to trading on Thursday . The stock had previously closed at $3.92, but opened at $3.83. CEMIG shares last traded at $3.75, with a volume of 6743302 shares.

Several analysts recently issued reports on the company. HSBC downgraded CEMIG from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Citigroup downgraded CEMIG from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 16th. Goldman Sachs Group downgraded CEMIG from a “neutral” rating to a “sell” rating in a research note on Thursday, January 3rd. Santander raised CEMIG from a “hold” rating to a “buy” rating in a research note on Tuesday, December 18th. Finally, JPMorgan Chase & Co. raised CEMIG from a “neutral” rating to an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold”.

The stock has a market capitalization of $4.56 billion, a P/E ratio of 14.42 and a beta of 0.22. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.21 and a quick ratio of 1.21.

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CEMIG Company Profile (NYSE:CIG)

Companhia Energ├ętica 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.

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