CEMIG (NYSE:CIG) Shares Down 4.5% – Here’s What Happened

CEMIG (NYSE:CIG)’s share price fell 4.5% during trading on Monday . The company traded as low as $1.80 and last traded at $1.81. 1,068,016 shares changed hands during trading, a decline of 55% from the average session volume of 2,392,857 shares. The stock had previously closed at $1.89.

Wall Street Analysts Forecast Growth

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

CEMIG Price Performance

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 stock’s fifty day moving average price is $1.94 and its 200-day moving average price is $1.96. The firm has a market cap of $5.18 billion, a PE ratio of 3.38 and a beta of 1.31.

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.