Companhia Energetica de Minas Gerais S.A. (NYSE:CIG) hit a new 52-week high during mid-day trading on Friday . The stock 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 downgraded shares of Companhia Energetica de Minas Gerais from a “hold” rating to a “sell” rating in a research note on Friday, June 3rd.

The stock has a market capitalization of $3.75 billion and a price-to-earnings ratio of 11.73. The stock’s 50 day moving average is $2.57 and its 200 day moving average is $1.96.

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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