Comp En De Mn Cemig ADS (CIG) : Analyst Rating Update

Comp En De Mn Cemig ADS (CIG) : Zacks Investment Research ranks Comp En De Mn Cemig ADS (CIG) as 4, which is a Sell recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. The average broker rating of 1 research analysts is 1, which indicates as a Strong Buy.

Comp En De Mn Cemig ADS (NYSE:CIG): The stock opened at $2.28 on Wednesday but the bulls could not build on the opening and the stock topped out at $2.29 for the day. The stock traded down to $2.08 during the day, due to lack of any buying support eventually closed down at $2.22 with a loss of -4.31% for the day. The stock had closed at $2.32 on the previous day. The total traded volume was 8,588,994 shares.

The company shares have dropped -31.76% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $5.14 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $1.68 and the 200 Day Moving Average price is recorded at $1.70.

Companhia Energetica de Minas Gerais CEMIG is a Brazil-based holding company mainly engaged in the generation, transmission and distribution of electricity. The Company operates through the segments: Generation, Transmission, Distribution, Telecom, Gas and Other. The Company generates electricity at approximately 78 hydroelectric plants, three thermoelectric plants and 23 wind farms. Its electric power transmission business consists of transporting power from the facilities where it is generated to points of consumption, distribution networks and Free Consumers. Its distribution operation consists of transfers of electricity from distribution substations to final consumers. It is also engaged in telecommunications, national and international energy solutions consulting business, exploitation of natural gas, sale and trading of electricity, trading electricity, and acquisition, transport and distribution of gas and its sub products and derivatives.

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