CEMIG (NYSE:CIG) Stock Rating Lowered by HSBC

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

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

CEMIG Price Performance

Shares of 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 50 day simple moving average of $1.90 and a 200 day simple moving average of $1.95. CEMIG has a 52-week low of $1.68 and a 52-week high of $2.19. The firm has a market capitalization of $4.91 billion, a PE ratio of 3.20 and a beta of 1.31.

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.