CIG - Companhia Energetica de Minas Gerais is a brazilian Utility company. They have a windfarm, thermoelectric plants, and most of their energy comes from their Hydroelectric plants.

I should start off by talking about how good Brazil looks right now as an investment. The EWZ or Brazil ETF was up huge yesterday over 7.25% in one day. It looks like the emerging markets trade is back on after the Federal Reserve rate cuts.

Now CIG looks like a great investment here from a technical perspective, but at the same time the fundamentals are good. CIG pays an 11% dividend and the dividend is growing. Its relatively cheap with a PE of about 12.

The following stock chart shows how this stock follows the Brazil ETF EWZ.