Ragnar Metals Limited (RAG) AI Stock Analysis

• Market Cap: AU$13.27M
• Dividend Yield: N/A
• Average Volume (3M): 937.39K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.85
• Revenue Growth: N/A
• EPS Growth: -107.50%
• Country: AU
• Employees: 1
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 0.00
• Shares Outstanding: 473,986,000
• 10 Day Avg. Volume: 852,782
• 30 Day Avg. Volume: 937,387
• PEG Ratio: 0.36
• Price to Book (P/B): 0.80
• Price to Sales (P/S): 7.18
• P/FCF Ratio: -3.78
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: AU$0.03 ▼(-13.33% Downside)

The score is held back primarily by weak profitability and sustained cash burn despite rapid revenue growth. A debt-free balance sheet reduces financial risk, and technical indicators are modestly constructive, but losses (negative P/E) keep the valuation and overall outlook pressured.

Positive Factors

Debt-Free Balance Sheet

A debt-free balance sheet reduces financial risk, providing the company with greater flexibility to invest in growth opportunities without the burden of interest payments.

Exploration Progress

Advancements in exploration activities indicate potential for discovering valuable mineral resources, which could enhance long-term revenue and market position in the mining sector.

Director Confidence

Increased shareholding by a director suggests confidence in the company's future prospects, potentially boosting investor trust and supporting long-term strategic goals.

Negative Factors

Weak Profitability

Persistent net losses and negative operating earnings highlight challenges in achieving sustainable profitability, which could hinder long-term growth and shareholder returns.

Cash Flow Concerns

Consistently negative cash flow indicates reliance on external funding, which may limit the company's ability to self-finance operations and invest in future growth.

Negative Return on Equity

Negative return on equity suggests inefficiencies in capital deployment, which may impact the company's ability to generate shareholder value over the long term.

Ragnar Metals Limited Business Overview & Revenue Model

Company Description

Ragnar Metals Limited engages in the exploration and evaluation of mineral properties. The company explores for nickel, gold, silver, copper, and base metals. It holds a 100% interest in the Tullsta Nickel prospect; and Gaddebo Nickel project in the Bergslagen district of Sweden. The company also owns the Leeds Gold project, as well as holds 100% interest in Kenya Gold project. Ragnar Metals Limited was incorporated in 2004 and is based in West Perth, Australia.

How the Company Makes Money

Ragnar Metals Limited generates revenue primarily through the exploration and development of mineral projects. The company seeks to identify and acquire prospective mineral deposits and enhance their value through exploration activities, such as drilling and geological surveys. Once viable mineral resources are established, Ragnar Metals may enter into joint ventures or sell interests in its projects to mining companies, thereby generating income. Additionally, the company may raise funds through equity financing to support its exploration activities and sustain operations until commercial production or sale of project interests occurs. Partnerships with strategic investors and other mining companies can also contribute to revenue, as these collaborations often bring in expertise, capital, and share in project risks.

Ragnar Metals Limited Financial Statement Overview

Summary

Ragnar Metals Limited has shown notable revenue growth but struggles with profitability due to negative EBIT and EBITDA margins. The balance sheet is strong with no debt, enhancing stability, while liquidity is robust. However, cash flow from operations is negative, impacting investment potential.

Income Statement

Ragnar Metals Limited has shown significant improvement in revenue from the previous year, with a TTM revenue of AUD 335,201 compared to AUD 5,654 in 2023, marking a strong growth trend. However, profitability remains a challenge, as evidenced by negative EBIT and EBITDA margins. The company achieved a positive net income primarily due to non-operating factors, suggesting that operational efficiency should be enhanced.

Balance Sheet

The company maintains a strong equity position with zero debt, reflected in a debt-to-equity ratio of 0. The return on equity is positive due to net income improvement, but the equity ratio indicates a high reliance on equity financing. The company’s liquidity position is robust, supported by substantial cash reserves relative to liabilities.

Cash Flow

Ragnar Metals Limited's cash flow performance is mixed. While operating cash flow remains negative, indicating challenges in generating cash from operations, the company has managed substantial financing cash flow, bolstering its cash reserves. The free cash flow growth is negative, which could impact future investments unless operational cash flow improves.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.22M	1.22M	335.20K	5.65K	24.93K	102.00
Gross Profit	1.22M	1.22M	335.20K	5.65K	25.43K	102.00
EBITDA	-203.23K	-198.89K	-2.41M	-456.00K	-983.00K	-744.54K
Net Income	-305.99K	-305.99K	3.61M	-456.00K	-1.20M	-835.00K
Balance Sheet
Total Assets	11.09M	11.09M	11.51M	5.01M	5.57M	5.35M
Cash, Cash Equivalents and Short-Term Investments	874.04K	874.04K	9.35M	196.05K	2.08M	3.39M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	148.98K	148.98K	610.81K	116.08K	154.62K	325.90K
Stockholders Equity	10.94M	10.94M	10.90M	4.90M	5.42M	5.03M
Cash Flow
Free Cash Flow	-2.31M	-2.31M	-2.24M	-1.87M	-2.46M	-1.90M
Operating Cash Flow	-1.25M	-1.25M	-679.25K	-82.94K	-339.44K	-882.38K
Investing Cash Flow	-7.28M	-7.28M	7.94M	-1.80M	-2.12M	-1.01M
Financing Cash Flow	52.43K	52.43K	1.89M	0.00	1.15M	5.15M

Ragnar Metals Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:RAG, the sentiment is Positive. The current price of 0.03 is above the 20-day moving average (MA) of 0.03, above the 50-day MA of 0.03, and above the 200-day MA of 0.02, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 57.84 is Neutral, neither overbought nor oversold. The STOCH value of 200.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:RAG.

Ragnar Metals Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
RAG	49 Neutral	AU$13.27M	-46.67	-2.80%	―	―	-107.50%
OLY	48 Neutral	AU$8.41M	-1.48	-217.79%	―	―	43.46%
WIN	45 Neutral	AU$30.86M	-0.42	-121.41%	―	―	-1034.67%
VR8	45 Neutral	AU$13.74M	-4.89	-8.74%	―	―	-25.00%
CR1	42 Neutral	AU$12.86M	-3.40	-213.82%	―	―	-32.39%

Ragnar Metals Limited Corporate Events

Ragnar Metals Director Increases Stake

Ragnar Metals Limited has announced a change in the director’s interest, specifically regarding Steve Formica’s indirect interest in the company. The change involves the acquisition of 1,730,145 fully paid ordinary shares through on-market purchases, increasing the total number of shares held to 21,250,000. This transaction, valued at $43,253.90, reflects a strategic move by the director, potentially signaling confidence in the company’s future prospects.

Ragnar Metals Announces Director’s Interest Changes

Ragnar Metals Limited has announced a change in the director’s interest, specifically for Ariel (Eddie) King. The changes involve the expiration and issuance of various performance rights and options as part of director remuneration, reflecting adjustments in the company’s strategic incentive plans. This announcement may impact stakeholders by indicating the company’s ongoing efforts to align director incentives with long-term company performance.

Ragnar Metals Announces Cessation of Performance Rights

Ragnar Metals Limited announced the cessation of 13,500,000 performance rights, divided equally between Class A and Class B, due to the expiry of options or other convertible securities without exercise or conversion. This development may impact the company’s capital structure and could influence its strategic decisions moving forward.

Ragnar Metals Director Increases Shareholding

Ragnar Metals Limited has announced a change in the director’s interest, specifically involving Steve Formica. The change includes the acquisition of 4,008,891 fully paid ordinary shares through on-market purchases, bringing the total to 17,758,891 shares. This adjustment in shareholding reflects a strategic move by the director, potentially impacting the company’s market perception and investor confidence.

Ragnar Metals Successfully Passes All AGM Resolutions

Ragnar Metals Limited announced that all resolutions presented at its Annual General Meeting held on November 18, 2025, were passed by the requisite majority. This includes the adoption of the remuneration report, re-election of a director, approval of a 10% placement capacity, renewal of proportional takeover provisions, and the issuance of director performance rights to related parties. The successful passing of these resolutions supports the company’s strategic initiatives and governance, potentially enhancing its operational capabilities and shareholder value.

Ragnar Metals Reports Quarterly Cash Flow and Investment Activities

Ragnar Metals Limited reported its quarterly cash flow, highlighting a net cash outflow of $299,000 from operating activities and $94,000 from investing activities. The company’s cash and cash equivalents decreased to $481,000 by the end of the quarter, reflecting ongoing investments in exploration and evaluation, which are crucial for its growth strategy in the mining sector.

Ragnar Metals Advances Swedish Exploration and Strengthens Strategic Investments

Ragnar Metals Limited reported significant progress in its exploration activities in Sweden, particularly at the Olserum–Gladhammar IOCG Project, where high-grade copper and gold results were obtained. The company expanded its land holdings and identified several mineralized occurrences, indicating strong potential for a large-scale IOCG system. Additionally, Ragnar’s strategic investments in Kaiser Reef and High-Tech Metals are yielding positive results, enhancing its leverage to gold production and battery-metals exposure. These developments align with Ragnar’s strategy to deliver value to shareholders through quality asset acquisition and exploration.

Ragnar Metals Schedules Annual General Meeting for November 2025

Ragnar Metals Limited has announced that its Annual General Meeting (AGM) will be held on 20 November 2025. The company has invited nominations for director positions, with a deadline of 9 October 2025 for submissions. Details of the AGM agenda and participation instructions will be provided in the Notice of AGM, which will be distributed to shareholders and made available on the ASX Market Announcements Platform and the company’s website.