CEMIG (NYSE:CIG) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.67 and traded as high as $3.66. CEMIG shares last traded at $3.60, with a volume of 51,006 shares trading hands.
Separately, ValuEngine downgraded CEMIG from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold”.
The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 14.32 and a beta of 0.21. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.17 and a current ratio of 1.17. The business has a fifty day moving average price of $3.76 and a 200 day moving average price of $3.67.
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.
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