Welcome to our dedicated page for Bank New York Mellon news (Ticker: BK), a resource for investors and traders seeking the latest updates and insights on Bank New York Mellon stock.
The Bank of New York Mellon Corporation reports news as BNY, a global financial services platforms company serving capital markets through custody, administration, investment services and asset management. Company updates commonly cover quarterly results, financial supplements, common and preferred stock dividends, and corporate-brand or listed-security matters tied to its NYSE-traded securities.
BNY-related news also includes activity across its investment management platform, including fund adviser communications and dividend announcements for BNY Mellon-branded investment products. These updates reflect the company's role in servicing financial assets, supporting institutional clients and managing investment strategies across major asset classes.
Buenaventura (NYSE: BVN) has closed a transaction to sell its Chaupiloma subsidiary, which owns a 1.8% net smelter return royalty on Newmont's Yanacocha mine, to Franco-Nevada for $210 million in cash. The deal includes a contingent payment of $15 million in Franco-Nevada shares upon certain conditions. This move aligns with Buenaventura's strategy to strengthen its financial position and reduce leverage.
The proceeds will be used to drive growth, particularly for the San Gabriel project, which is 57% complete and on track to produce its first gold bar by the second half of 2025. Buenaventura, Peru's largest publicly-traded precious metals mining company, operates several mines in Peru and holds a 19.58% stake in Sociedad Minera Cerro Verde, a significant copper producer.
Crux Wealth Advisors (Crux) has officially launched as a hybrid Registered Investment Adviser and full-service wealth management firm, transitioning from Raymond James Financial Services. The firm launched with its first tranche of $1 billion in client assets under management (AUM), with plans for further growth in 2024. Founded by Travis Alexander in 2016, Crux grew from ~$70 million AUM in its first year to over $3 billion while on the RJFS platform.
Key collaborators in this transition include Decerno Advisors as a strategic advisor, Arete Wealth as the accommodating broker/dealer and insurance agency for hybrid advisors, and BNY Pershing providing clearing and custody services. Crux is actively seeking right-fit advisors for expansion and aims to focus on improving client experience and success rather than growth for growth's sake.
Snorkel AI has announced a strategic agreement with BNY Mellon (NYSE: BK) to provide software, expertise, and insights for transforming unstructured data into actionable solutions for clients. This collaboration aims to accelerate BNY's AI initiatives, focusing on enhancing efficiency, productivity, and insights. Snorkel AI's approach moves away from manual data curation to a more programmatic method, making AI model creation more affordable, scalable, and secure.
Sarthak Pattanaik, Head of AI Hub at BNY, emphasized the importance of tech innovation in serving clients better and improving company operations. Alex Ratner, CEO of Snorkel AI, highlighted that their platform has been adopted by most major US banks due to its ability to simplify data preparation tasks for AI-ready data.
Snorkel AI has announced a strategic agreement with BNY Mellon (NYSE: BK) to provide software, expertise, and insights for transforming unstructured data into actionable solutions. This collaboration aims to accelerate BNY Mellon's AI initiatives, focusing on efficiency, productivity, and client insights. Snorkel AI's approach moves away from manual data curation to a more programmatic method, making AI model creation more affordable, scalable, and secure.
Sarthak Pattanaik, Head of AI Hub at BNY Mellon, emphasized the importance of tech innovation in their strategic focus. The partnership with Snorkel AI is expected to leverage unstructured data expertise to deliver innovative, safe, and resilient solutions for clients and the market. Snorkel AI's CEO, Alex Ratner, highlighted that their technology has been adopted by the majority of the largest US banks, simplifying tasks like data curation, tagging, and labeling.
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) has announced a distribution of $0.0300 per share of common stock, payable on September 3, 2024 to shareholders of record as of August 19, 2024. The ex-dividend date is also August 19, 2024. This distribution matches the previous one announced in July.
The Fund aims to make regular monthly distributions at a stable rate based on projected performance. 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 as of the same date.
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.