Comp En De Mn Cemig ADS (CIG) has risen sharply, recording gains of 5.86% in the past 4 weeks. However, the stock has corrected -3.02% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 5.46% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Companhia Energetica de Minas Gerais S.A. is up 90.13% in the last 3-month period. Year-to-Date the stock performance stands at 108.89%. The stock has recorded a 20-day Moving Average of 1.81% and the 50-Day Moving Average is 20.86%.
Comp En De Mn Cemig ADS (NYSE:CIG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.81 and $2.78 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.91. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.89, notching a gain of 2.48% for the day. The total traded volume was 5,417,261 . The stock had closed at $2.82 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.