Companhia Energetica de Minas Gerais S.A. (NYSE:CIG)’s share price traded down 3.8% during trading on Monday . The stock traded as low as $2.76 and last traded at $2.78, with a volume of 1,766,408 shares changing hands. The stock had previously closed at $2.89.

Separately, Zacks Investment Research upgraded Companhia Energetica de Minas Gerais from a “sell” rating to a “hold” rating and set a $3.25 price objective on the stock in a research report on Monday, August 1st.

The stock has a market cap of $3.50 billion and a PE ratio of 16.45. The stock has a 50 day moving average of $2.70 and a 200 day moving average of $2.02.

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.

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