Bank New York Mellon Corp Stock Price, News & Analysis

Buenaventura (NYSE: BVN) reported strong financial results for Q2 2024 and H1 2024. Key highlights include:

- Q2 2024 EBITDA from direct operations: $106.9 million (vs $22.1 million in Q2 2023)
- H1 2024 EBITDA from direct operations: $201.3 million (vs $68.7 million in H1 2023)
- Q2 2024 net income: $74.4 million (vs $5.4 million loss in Q2 2023)
- H1 2024 net income: $141.4 million (vs $67.5 million in H1 2023)
- Cash position: $171.5 million as of June 30, 2024
- Net debt: $520.5 million with a leverage ratio of 1.40x

Production increases were seen in silver, zinc, and lead, while copper and gold decreased. El Brocal's processing plant resumed operations after a 16-day suspension.

BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (NYSE: DCF) has declared a monthly distribution of $0.035 per share of common stock, payable on September 3, 2024. The ex-dividend date is August 8, 2024. This matches the previous distribution declared in June.

The Fund aims to pay most of its net income to shareholders through monthly dividends, though this policy may change. BNY Mellon Investment Adviser, Inc., part of BNY Investments, manages the Fund. BNY Investments is a major asset manager with $2.0 trillion in assets under management as of June 30, 2024. BNY, the parent company, has $49.5 trillion in assets under custody and/or administration.

BNY Mellon High Yield Strategies Fund (NYSE: DHF) has declared a monthly cash dividend of $0.0175 per share from net investment income. The dividend is payable on August 21, 2024, to shareholders of record as of August 7, 2024. This matches the previous dividend declared in June. BNY Mellon Investment Adviser, Inc., the fund's investment adviser, is part of BNY Investments, which manages $2.0 trillion in assets as of June 30, 2024. BNY, the parent company, has $49.5 trillion in assets under custody and/or administration.

Buenaventura (NYSE: BVN) has released its Q2 2024 production and sales volume results. Key highlights include:

- Gold production: 33,819 oz from direct operations, 35,247 oz including associated companies

- Silver production: 4,017,977 oz from direct operations, 3,911,774 oz including associated companies

- Lead production: 4,383 metric tons

- Zinc production: 6,352 metric tons

- Copper production: 10,123 metric tons

The company is on track to meet its 2024 guidance for most metals. Notably, Yumpag mine contributed significantly to silver production with 2,461,616 oz in Q2. El Brocal remains the primary copper producer for Buenaventura.

Buenaventura (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly traded precious and base metals company, announced its Second Quarter 2024 earnings conference call scheduled for July 26, 2024, at 11:00 AM Eastern Time. The event will feature CEO Leandro García Raggio and senior management. The second quarter results will be released on July 25, 2024, after market close.

The call can be accessed via a toll-free number in the US (+1 844 481 2914) or internationally (+1 412 317 0697). Participants can also use the provided link to receive an automatic call. A live webcast will be available, and a replay will be accessible for seven days post-conference.

Buenaventura operates several mines in Peru and holds a 19.58% stake in Sociedad Minera Cerro Verde. For more information, visit their website or contact Daniel Dominguez (CFO) or Gabriel Salas (Head of Investor Relations) in Lima, or Barbara Cano at InspIR Group in New York.

Arete Wealth, an independent broker-dealer and registered investment advisory firm managing over $6B in assets, has announced an expansion of its clearing and custodial services through long-term agreements with BNY Pershing. This partnership will provide Arete Wealth's advisors access to BNY Pershing X's Wove wealth management platform, which integrates tools like Wove Investor, Wove Data, and Wove Advisory's Portfolio Solutions to unify an investor's financial picture. This collaboration, hailed by both firms' executives, aims to support Arete's growth in traditional and alternative investments, including hedge funds, private equity, and real estate.

The Bank of New York Mellon (NYSE: BK) announced its Board of Directors declared dividends on its common and preferred stock. A quarterly common stock dividend of $0.47 per share will be payable on August 2, 2024, to shareholders of record as of July 22, 2024.

Dividends for noncumulative perpetual preferred stock, with a liquidation preference of $100,000 per share, will be paid on September 20, 2024, to holders of record as of September 5, 2024. The preferred dividends are as follows: $1,577.81 on Series A, $2,312.50 on Series F, $2,350.00 on Series G, $925.00 on Series H, and $937.50 on Series I.

BNY oversees $49.5 trillion in assets under custody and $2.0 trillion in assets under management as of June 30, 2024, serving a vast array of global financial institutions and governments.

The Bank of New York Mellon (NYSE: BK) reported its financial results for the second quarter of 2024. BNY posted earnings per share (EPS) of $1.25, a 10% increase compared to the same quarter last year. The company's total revenue for Q2 2024 was $4.3 billion, representing a 5% year-over-year growth. Net income for the quarter stood at $1.1 billion, up from $1 billion in Q2 2023. BNY's asset servicing fees rose by 8% to $2.5 billion, while its clearing services revenue increased by 6% to $1.2 billion. However, the company faced a 3% decline in interest income, which totaled $600 million. Operating expenses were reported at $2.7 billion, a 4% increase from the previous year, attributed to higher technology and compliance costs. The company's management will discuss these results during a conference call at 9:30 a.m. ET.

BNY Mellon Alcentra Global Multi-Strategy Credit Fund has announced the approval of its quarterly tender offer. The offer will commence on July 17, 2024, and expire on August 13, 2024, at 5:00 p.m. Eastern Time. It will cover 2.5% of the Fund's outstanding shares as of June 30, 2024, at the net asset value per share determined on the same date. The offer details will be included in the Fund's Offer to Purchase and related documents, which will be filed with the SEC and made available to shareholders. Shareholders can obtain more information and copies of the documents from Georgeson or the SEC’s website.