CEMIG (NYSE:CIG) Cut to Underperform at Bank of America

CEMIG (NYSE:CIG) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

Several other research analysts have also recently issued reports on CIG. Hsbc Global Res raised CEMIG to a “hold” rating in a research note on Friday, January 10th. HSBC lowered shares of CEMIG from a “buy” rating to a “hold” rating in a research note on Friday, January 10th.

CEMIG Trading Down 2.5 %

CEMIG stock opened at $1.77 on Tuesday. The firm has a 50-day moving average price of $1.88 and a two-hundred day moving average price of $1.91. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 3.30 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35. CEMIG has a 52-week low of $1.69 and a 52-week high of $2.19.

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.