The gold medal winner in Athens 2004 and Beijing 2008 went behind to Anthony Lozano's goal and Mauricio Martinez's injury-time equaliser was not enough to see them climb above Honduras in Group D.

Goalkeeper Geronimo Rulli saved Bryan Acosta's first-half penalty, but Angel Correa failed to take advantage, turning his own spot-kick onto the post early in the second half.

Lozano made no mistake when Alberth Elis won his and Honduras' second penalty of the game, however, striking the ball confidently past Rulli to put the Central Americans in the driving seat.

Argentina surged forward in search of salvation and Martinez's deflected free-kick offered a glimmer of hope, but the draw sends Honduras into the quarter-finals by virtue of a better goal difference.

It follows group winner Portugal, who sealed top spot with a 1-1 draw with Algeria.