CEMIG (NYSE:CIG) Sees Strong Trading Volume – Time to Buy?

CEMIG (NYSE:CIG) saw unusually-strong trading volume on Monday . Approximately 2,940,447 shares were traded during mid-day trading, an increase of 44% from the previous session’s volume of 2,044,579 shares.The stock last traded at $1.90 and had previously closed at $1.91.

Analysts Set New Price Targets

A number of equities research analysts have commented on CIG shares. Hsbc Global Res raised shares of CEMIG to a “hold” rating in a research report on Friday, January 10th. HSBC downgraded shares of CEMIG from a “buy” rating to a “hold” rating in a research report on Friday, January 10th.

CEMIG Price Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.04. The stock’s 50-day moving average is $1.86 and its 200 day moving average is $1.93. The stock has a market capitalization of $5.48 billion, a PE ratio of 3.56 and a beta of 1.30.

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.