EBR-B - Centrais Elétricas Brasileiras S.A. - Eletrobras

NYSE - Nasdaq Real-time price. Currency in USD
-0.10 (-1.63%)
As of 2:20PM EDT. Market open.
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Previous close6.14
Bid6.07 x 1100
Ask6.10 x 1300
Day's range5.95 - 6.07
52-week range3.20 - 11.57
Avg. volume61,062
Market cap8.865B
Beta (5Y monthly)0.70
PE ratio (TTM)N/A
EPS (TTM)-0.54
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend date09 May 2019
1y target estN/A
  • Bloomberg

    Brazil Ore, Power Giants Excluded From Norway’s Wealth Fund

    (Bloomberg) -- Iconic Brazilian companies Vale SA and Eletrobras SA were removed from the world’s largest sovereign wealth fund due to environmental and human rights concerns.Norges Bank Investment Management said in a statement it’s excluded iron-ore giant Vale from Norway’s $1 trillion pension fund after repeated dam breaches in Brazil killed hundreds of people and caused environmental damage. Eletrobras was withdrawn because of the “unacceptable risk” that the country’s largest utility contributes to serious or systematic human rights violations.Norges’s move deals a blow to Vale, which has taken steps to improve its image after a dam collapse early last year killed 270 people. The Rio de Janeiro-based mining company replaced its top manager, committed to decommissioning riskier dams, and built a treatment plant to clean up polluted water.For Eletrobras, it’s also a reminder of the problems associated with the Belo Monte plant, where construction in the Amazon forest was marked by fierce opposition from environmental groups and a corruption scandal. Norges’s Council on Ethics said the project led to “increased pressure on indigenous lands, the disintegration of indigenous peoples’ social structures and the deterioration of their livelihoods,” with about 20,000 people displaced by the dam. The council also said the company has been involved in other projects that have been criticized for human rights violations.Eletrobras, controlled by the Brazilian government, said in a statement that it has taken “important strategic steps” to strengthen its commitment to human rights practices including closely monitoring subsidiaries like Belo Monte’s operator.Vale declined to comment.Norway’s wealth fund owned $375 million in Vale stock at the end of 2019, according to the latest figures available on the website of Norges Bank Investment Management. It also held $53 million in shares and $21 million in bonds of Eletrobras.Eletrobras fell 1.1% at 3:43 p.m. in Sao Paulo, extending this year’s decline to 46%. Vale rose 3%, reducing 2020’s losses to 9%.Other companies excluded from the fund include Canadian Natural Resources Ltd., Cenovus Energy Inc., Suncor Energy Inc. and Imperial Oil Ltd. due to emissions. ElSewedy Electric Co was also excluded because of its participation in the development of a hydropower project in Tanzania.(Adds Eletrobras comment in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.