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

CEMIG (NYSE:CIG)’s share price was up 4.5% during mid-day trading on Thursday . The company traded as high as $1.86 and last traded at $1.85. Approximately 1,445,170 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 2,391,988 shares. The stock had previously closed at $1.77.

Wall Street Analysts Forecast Growth

Separately, Scotiabank initiated coverage on shares of CEMIG in a report on Thursday, October 31st. They set a “sector perform” rating on the stock.

CEMIG Stock Up 2.7 %

The company has a market capitalization of $5.41 billion, a PE ratio of 3.53 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50 day moving average is $1.95 and its 200 day moving average is $1.96.

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.