10 Cheapest Penny Stocks to Buy Now

7. Companhia Energetica De Minas Gerais (NYSE:CIG)

Number of Hedge Fund Holders: 12

Forward P/E: 8.99

Companhia Energetica De Minas Gerais (CIG) is one of the 10 Cheapest Penny Stocks to Buy Now.

On September 3, 2025, Companhia Energetica De Minas Gerais (NYSE:CIG) released its earnings report for the second quarter of 2025.

Companhia Energetica De Minas Gerais (NYSE:CIG) reported a 15% increase in adjusted EBITDA, taking it to $430 million, while sustaining a healthy net cash position of $585 million. Furthermore, distributed generation grew 20% year-over-year (YoY), which offset the 3.3% drop in energy distribution. Meanwhile, strategic investments energized nine substations and added 2,600 kilometers of new networks.

Having grown its revenue by 10.8% over the past year, Companhia Energetica De Minas Gerais (NYSE:CIG) remains focused on regional infrastructure expansion within Minas Gerais, enhancing efficiency and grid resilience. Moreover, the company outlined a $10.7 billion investment plan through 2029, which is expected to expand distribution infrastructure and automation, while exploring concession renewals for its power plants.

Companhia Energetica De Minas Gerais (NYSE:CIG), a Brazilian energy company, is focused on the generation, transmission, distribution, and sale of electricity, as well as gas and related derivatives. It is one of the 10 Cheapest Penny Stocks to Buy Now.