Notable Reporting: What’s Propelling Cia Energetica de Minas Gerais CEMIG-ADR to Decline So Much?

Notable Reporting: What's Propelling Cia Energetica de Minas Gerais CEMIG ADR to Decline So Much?

The stock of Cia Energetica de Minas Gerais CEMIG-ADR (NYSE:CIG) is a huge mover today! About 7.79 million shares traded hands or 83.29% up from the average. Cia Energetica de Minas Gerais CEMIG-ADR (NYSE:CIG) has risen 39.39% since April 8, 2016 and is uptrending. It has outperformed by 33.75% the S&P500.
The move comes after 9 months negative chart setup for the $2.96B company. It was reported on Nov, 10 by We have $2.31 PT which if reached, will make NYSE:CIG worth $148.00M less.

According to Zacks Investment Research, “CEMIG SA -ADR is active in the generation, transmission, distribution and commercialization business, Cemig continues to invest in the expansion of its services and in new technologies so as to remain a top notch company nationwide. Using power sources such as hydraulic, thermal, wind and solar power and even other more advanced technologies, such as hydrogen fuel cells, Cemig goes on providing, under any circumstances, alternatives for the supply and commercialization of electric energy.”

More notable recent Cia Energetica de Minas Gerais CEMIG-ADR (NYSE:CIG) news were published by: which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011, also with their article: “How to invest in three hot emerging-market sectors” published on September 10, 2010, published: “These are the stocks for playing climate change” on December 01, 2015. More interesting news about Cia Energetica de Minas Gerais CEMIG-ADR (NYSE:CIG) were released by: and their article: “Cemig concludes sale of stake in Transchile Charrua Transmision to unit of Ferrovial” published on October 07, 2016 as well as‘s news article titled: “Cemig and FIP Coliseu to sell 65.7 mln units of Taesa” with publication date: October 03, 2016.

CIG Company Profile

Companhia Energetica de Minas Gerais CEMIG, incorporated on May 22, 1952, is a Brazil holding firm mainly engaged in the generation, transmission and distribution of electricity. The Firm operates through the divisions: Generation, Transmission, Distribution, Telecom, Gas and Other. As of December 31, 2014, the Company generated electricity at 78 hydroelectric plants, three thermoelectric plants and 23 wind farms, with total installed capacity of 7,716 Megawatts. Of this capacity, the hydroelectric plants had a total of 7,334 Megawatts, the thermal plants 184 Megawatts, and the wind farms 199 Megawatts. The Company’s electric power transmission business consists of transporting power from the facilities where it is generated to points of consumption, distribution networks and Free Consumers. The transmission network consists of power transmission lines and substations with voltage of 230 kilovolts or more.

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