SberInvestments adds MMK and removes Transneft from stock selection

SberInvestments has added Magnitogorsk Iron and Steel Works, known as MMK, to its selection of preferred Russian stocks and removed Transneft. RBC and Finmarket reported the analysts’ revised list on October 14.

The broker’s analysts expect steelmakers’ results to improve after what they describe as a profit-cycle trough in the first quarter of 2026. They argue that MMK could benefit from recovery in domestic steel volumes and prices, alongside lower iron ore costs.

Their decision on Transneft concerns the timing of potential catalysts rather than a reported deterioration in operations. Analyst Denis Ikonnikov said the business remained stable, but the next dividend payment was expected only in summer 2027.

The analysts recalled Transneft’s summer 2026 payment of 204.17 roubles per share. Their expectations for future dividends and MMK’s recovery are forecasts, rather than company-approved payments or published future financial results.