Companhia Energetica de Minas Gerais [NYSE: CIG] plunged by -$0.04 during the normal trading session on Tuesday and reaching a high of $1.995 during the day while it closed the day at $1.95. The company report on December 12, 2022 that CEMIG Geração e Transmissão S.A. Announces Early Tender Date Results of its Cash Tender Offer for its 9.250% Senior Notes due 2024.
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CEMIG Geração e Transmissão S.A. (“CEMIG GT”), a wholly-owned subsidiary of Companhia Energética de Minas Gerais (“CEMIG Holding”), today announced the early tender date results of its previously announced offer (the “Offer”) to purchase for cash up to the Maximum Amount (as defined below) of its outstanding 9.250% Senior Notes due 2024 (the “Notes”). When used in this press release, the terms “we,” “us” and “our” refer collectively to CEMIG GT and CEMIG Holding, in each case, unless the context otherwise requires.
The Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated November 28, 2022 (the “Offer to Purchase”), including, among other things, the total or partial settlement of CEMIG GT’s ninth issuance of simple debentures, non-convertible into shares, with an additional fiduciary guarantee from CEMIG Holding, in up to two series, for public distribution with restricted distribution efforts, amounting up to.
Companhia Energetica de Minas Gerais stock has also loss -2.01% of its value over the past 7 days. However, CIG stock has declined by -1.14% in the 3 months of the year. Over the past six months meanwhile, it has lost -16.23% and lost -3.94% year-on date.
The market cap for CIG stock reached $5.22 billion, with 2.20 billion shares outstanding and 1.76 billion shares in the current float. Compared to the average trading volume of 5.33M shares, CIG reached a trading volume of 4576733 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Companhia Energetica de Minas Gerais [CIG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CIG shares is $2.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CIG stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Companhia Energetica de Minas Gerais shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 14, 2019. The new note on the price target was released on April 10, 2019, representing the official price target for Companhia Energetica de Minas Gerais stock.
The Average True Range (ATR) for Companhia Energetica de Minas Gerais is set at 0.07, with the Price to Sales ratio for CIG stock in the period of the last 12 months amounting to 0.77. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 0.35. Price to Free Cash Flow for CIG in the course of the last twelve months was 6.32.
CIG stock trade performance evaluation
Companhia Energetica de Minas Gerais [CIG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.01. With this latest performance, CIG shares dropped by -9.72% in over the last four-week period, additionally sinking by -16.23% over the last 6 months – not to mention a rise of 5.96% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CIG stock in for the last two-week period is set at 38.78, with the RSI for the last a single of trading hit 33.85, and the three-weeks RSI is set at 41.81 for Companhia Energetica de Minas Gerais [CIG]. The present Moving Average for the last 50 days of trading for this stock 2.0940, while it was recorded at 1.9940 for the last single week of trading, and 2.1659 for the last 200 days.
Companhia Energetica de Minas Gerais [CIG]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Companhia Energetica de Minas Gerais [CIG] shares currently have an operating margin of +17.42 and a Gross Margin at +19.68. Companhia Energetica de Minas Gerais’s Net Margin is presently recorded at +11.15.
Return on Equity for this stock inclined to 20.32, with Return on Assets sitting at 7.07.
Companhia Energetica de Minas Gerais’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.30.
Earnings per share (EPS) analysis for Companhia Energetica de Minas Gerais [CIG] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CIG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Companhia Energetica de Minas Gerais go to 0.00%.
Companhia Energetica de Minas Gerais [CIG]: Insider Ownership positions
There are presently around $386 million, or 21.80% of CIG stock, in the hands of institutional investors. The top three institutional holders of CIG stocks are: GOLDMAN SACHS GROUP INC with ownership of 30,560,693, which is approximately -31.057% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 16,969,341 shares of the stock with an approximate value of $33.09 million in CIG stocks shares; and POLUNIN CAPITAL PARTNERS LTD, currently with $24.85 million in CIG stock with ownership of nearly -5.54% of the company’s market capitalization.
Positions in Companhia Energetica de Minas Gerais stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 98 institutional holders increased their position in Companhia Energetica de Minas Gerais [NYSE:CIG] by around 48,064,867 shares. Additionally, 61 investors decreased positions by around 97,387,247 shares, while 23 investors held positions by with 52,269,604 shares. The mentioned changes placed institutional holdings at 197,721,718 shares, according to the latest SEC report filing. CIG stock had 33 new institutional investments in for a total of 13,515,945 shares, while 16 institutional investors sold positions of 5,188,538 shares during the same period.