NEW YORK (

TheStreet

) --

Allied Nevada Gold

(AMEX:

ANV

) hit a new 52-week high Wednesday as it traded at $35.17 compared with its previous 52-Week high of $35.10. Allied Nevada is changing hands at $35.13 with 294,556 shares traded as of 11:46 a.m. ET. Average volume has been 723,700 shares over the past 30 days.

Allied Nevada has a market cap of $3 billion and is part of the

basic materials

sector and

metals & mining

industry. Shares are up 29.3% year to date as of the close of trading on Tuesday.

Allied Nevada Gold Corp., together with its subsidiaries, engages in the evaluation, acquisition, exploration, and advancement of gold exploration and development projects in the State of Nevada. The company has a P/E ratio of 81, equal to the average metals & mining industry P/E ratio and above the S&P 500 P/E ratio of 16.1.

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TheStreet Ratings rates Allied Nevada as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive. You can view the full

Allied Nevada Ratings Report

.

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