CEMIG Delays 2024 Yearly Report Filing

Companhia Energetica Minas Gerais ( (CIG) ) has released a notification of late filing.

Companhia Energética de Minas Gerais (CEMIG) has announced a delay in filing its Form 20-F (Yearly Report) for the financial period ending December 31, 2024. The delay is primarily due to the need for additional time to complete financial statement preparation and review, including management’s assessment of internal controls over financial reporting. This has also led to KPMG Auditores Independentes Ltda., the company’s independent registered accounting firm, requiring more time to finish their audit procedures. CEMIG has communicated that the Form 20-F was filed on May 1, 2025, within the extended timeline. The company does not anticipate any significant changes in financial results from the previous year. The notification was signed by Andrea Marques de Almeida, the Chief Financial and Investor Relations Officer, indicating ongoing compliance efforts.

Spark’s Take on CIG Stock

According to Spark, TipRanks’ AI Analyst, CIG is a Outperform.

Companhia Energetica Minas Gerais has a strong overall stock score driven by excellent financial performance with robust profitability and significant revenue growth. The valuation is highly attractive due to a low P/E ratio and high dividend yield. The recent earnings call was positive, reflecting significant financial achievements, although technical indicators suggest a cautious approach due to mixed signals.

To see Spark’s full report on CIG stock, click here.

More about Companhia Energetica Minas Gerais

YTD Price Performance: 8.62%

Average Trading Volume: 3,450,494

Technical Sentiment Signal: Strong Sell

Current Market Cap: $6.24B

See more insights into CIG stock on TipRanks’ Stock Analysis page.