CEMIG (NYSE:CIG) Cut to “Hold” at HSBC

HSBC cut shares of CEMIG (NYSE:CIG) from a buy rating to a hold rating in a research note published on Friday morning, MarketBeat.com reports.

Separately, Scotiabank assumed coverage on CEMIG in a research note on Thursday, October 31st. They set a “sector perform” rating on the stock.

CEMIG Price Performance

CIG stock opened at $1.72 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.96. The company’s 50-day moving average is $1.90 and its 200-day moving average is $1.95. The stock has a market capitalization of $4.91 billion, a PE ratio of 3.20 and a beta of 1.31. CEMIG has a 1 year low of $1.68 and a 1 year 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.