Loma Negra Compania Industrial Argentina (NYSE:LOMA) Hits New 1-Year Low - Here's What Happened

Key Points

• Loma Negra Compania Industrial Argentina (NYSE:LOMA) has reached a new 12-month low, trading as low as $7.42, with analysts expressing mixed views about its future performance.
• Despite recent struggles, the stock has maintained an average rating of "Buy" from analysts, with a consensus price target of $14.80.
• Institutional investors have increased their stakes, with major firms like BNP Paribas and Engineers Gate Manager LP boosting their holdings in Loma Negra during the last quarter.

Loma Negra Compania Industrial Argentina S.A. Sponsored ADR (NYSE:LOMA - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $7.42 and last traded at $7.45, with a volume of 823293 shares. The stock had previously closed at $7.66.

Analyst Ratings Changes

LOMA has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of Loma Negra Compania Industrial Argentina in a report on Wednesday, June 18th. They issued a "buy" rating and a $16.00 target price for the company. Wall Street Zen cut shares of Loma Negra Compania Industrial Argentina from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $14.80.

Loma Negra Compania Industrial Argentina Stock Up 1.0%

The stock's 50 day moving average price is $10.07 and its 200-day moving average price is $10.91. The stock has a market capitalization of $840.24 million, a P/E ratio of 13.09 and a beta of 1.06.

Institutional Investors Weigh In On Loma Negra Compania Industrial Argentina

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in shares of Loma Negra Compania Industrial Argentina by 5.1% in the second quarter. BNP Paribas Financial Markets now owns 31,336 shares of the company's stock worth $344,000 after buying an additional 1,524 shares during the last quarter. Activest Wealth Management raised its holdings in shares of Loma Negra Compania Industrial Argentina by 0.9% in the first quarter. Activest Wealth Management now owns 169,538 shares of the company's stock worth $1,863,000 after buying an additional 1,563 shares during the last quarter. Simplex Trading LLC raised its holdings in shares of Loma Negra Compania Industrial Argentina by 23.2% in the first quarter. Simplex Trading LLC now owns 19,725 shares of the company's stock worth $216,000 after buying an additional 3,711 shares during the last quarter. Ping Capital Management Inc. raised its holdings in shares of Loma Negra Compania Industrial Argentina by 3.7% in the second quarter. Ping Capital Management Inc. now owns 139,000 shares of the company's stock worth $1,525,000 after buying an additional 5,000 shares during the last quarter. Finally, Engineers Gate Manager LP raised its holdings in shares of Loma Negra Compania Industrial Argentina by 35.3% in the second quarter. Engineers Gate Manager LP now owns 24,773 shares of the company's stock worth $272,000 after buying an additional 6,463 shares during the last quarter. Hedge funds and other institutional investors own 19.32% of the company's stock.

About Loma Negra Compania Industrial Argentina

Loma Negra Compañía Industrial Argentina Sociedad Anónima, together with its subsidiaries, manufactures and sells cement and its derivatives in Argentina. The company operates through Cement, Masonry Cement and Lime; Concrete; Railroad; Aggregates; and Others segments. It offers masonry cement, aggregates, ready-mix concrete, concrete, and lime to wholesale distributors, concrete producers, industrial customers, and others for use in the construction.