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

Comp En De Mn Cemig ADS (CIG) : Zacks Investment Research ranks Comp En De Mn Cemig ADS (CIG) as 3, which is a Hold 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.

For the current week, the company shares have a recommendation consensus of Buy.


Comp En De Mn Cemig ADS (NYSE:CIG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.62 and $2.58 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.81. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.80, notching a gain of 5.66% for the day. The total traded volume was 3,006,520 . The stock had closed at $2.65 on the previous day.

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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