Loma Negra Compania Industrial Argentina (NYSE:LOMA) Shares Gap Down – Should You Sell?

Loma Negra Compania Industrial Argentina S.A. Sponsored ADR (NYSE:LOMA)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $9.00, but opened at $7.96. Loma Negra Compania Industrial Argentina shares last traded at $8.28, with a volume of 372,683 shares changing hands.

Analysts Set New Price Targets

LOMA has been the subject of several research analyst reports. Citigroup started coverage on Loma Negra Compania Industrial Argentina in a research note on Wednesday, June 18th. They issued a “buy” rating and a $16.00 price objective for the company. Itau BBA Securities upgraded Loma Negra Compania Industrial Argentina from a “market perform” rating to an “outperform” rating and set a $14.20 price objective on the stock in a research note on Monday, May 12th. Morgan Stanley upgraded Loma Negra Compania Industrial Argentina from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $15.00 in a research note on Tuesday, May 20th. Finally, Wall Street Zen lowered shares of Loma Negra Compania Industrial Argentina from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Loma Negra Compania Industrial Argentina presently has a consensus rating of “Buy” and a consensus target price of $14.80.

Loma Negra Compania Industrial Argentina Stock Performance

The company has a market cap of $955.77 million, a PE ratio of 14.89 and a beta of 1.06. The stock’s 50-day simple moving average is $10.75 and its 200 day simple moving average is $11.13.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Loma Negra Compania Industrial Argentina during the 4th quarter valued at $270,000. BNP Paribas Financial Markets raised its stake in shares of Loma Negra Compania Industrial Argentina by 57.5% during the 4th quarter. BNP Paribas Financial Markets now owns 19,807 shares of the company’s stock worth $236,000 after acquiring an additional 7,232 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Loma Negra Compania Industrial Argentina by 187.9% in the fourth quarter. Bank of America Corp DE now owns 150,808 shares of the company’s stock valued at $1,801,000 after purchasing an additional 98,417 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in Loma Negra Compania Industrial Argentina by 100.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 460,315 shares of the company’s stock valued at $5,496,000 after purchasing an additional 231,007 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Loma Negra Compania Industrial Argentina by 89.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,387,794 shares of the company’s stock worth $16,570,000 after buying an additional 655,533 shares in the last quarter. Institutional investors and hedge funds 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.