CEMIG (NYSE:CIG) Shares Up 4.5% – Still a Buy?

Shares of CEMIG (NYSE:CIG) were up 4.5% during 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 trading, a decline of 40% from the average daily volume of 2,391,988 shares. The stock had previously closed at $1.77.

Analysts Set New Price Targets

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

CEMIG Stock Performance

The firm has a 50 day moving average price of $1.95 and a 200-day moving average price of $1.96. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 3.42 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.96.

About CEMIG

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.