Companhia Energetica de Minas Gerais S.A. (NYSE:CIG) hit a new 52-week high on Friday . The company traded as high as $3.08 and last traded at $3.03, with a volume of 3,590,072 shares changing hands. The stock had previously closed at $3.02.

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

The company has a market cap of $3.79 billion and a price-to-earnings ratio of 11.94. The stock’s 50-day moving average price is $2.54 and its 200 day moving average price is $1.95.

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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