Is Ramaco Resources, Inc. overvalued or undervalued?

As of 12 May 2025, the valuation grade for Ramaco Resources, Inc. has moved from very expensive to risky. The company appears to be overvalued given its current financial metrics and peer comparison. Key ratios include a Price to Book Value of 1.43, an EV to EBITDA of 8.14, and a Dividend Yield of 475.28%.
In comparison to its peers, Natural Resource Partners LP has a fair valuation with a P/E ratio of 7.55 and an EV to EBITDA of 7.85, while Hallador Energy Co. is also classified as risky with a significantly high P/E ratio of 128.77. The substantial divergence in valuation metrics suggests that Ramaco Resources, Inc. is not only overvalued but also carries a high level of risk in comparison to its industry peers. Notably, the company's stock has outperformed the S&P 500 over the past month, returning 35.79% compared to the index's 3.83%, which may indicate speculative interest despite the underlying valuation concerns.