HSBC Downgrades CEMIG (NYSE:CIG) to Hold

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

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

CEMIG Stock Performance

CIG stock opened at $1.79 on Friday. The firm has a 50 day moving average of $1.90 and a two-hundred day moving average of $1.95. CEMIG has a 12 month low of $1.68 and a 12 month high of $2.19. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 3.33 and a beta of 1.31. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.28.

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.