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NEW YORK (

TheStreet

) --

Richmont Mines

(AMEX:

RIC

) hit a new 52-week high Friday as it is currently trading at $12.16, above its previous 52-week high of $12.14 with 761,136 shares traded as of 3:36 p.m. ET. Average volume has been 465,300 shares over the past 30 days.

Richmont Mines has a market cap of $369.2 million and is part of the

basic materials

sector and

metals & mining

industry. Shares are up 122.5% year to date as of the close of trading on Thursday.

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Richmont Mines Inc. engages in the acquisition, exploration, development, and operation of mining properties, principally gold in northeast Canada. The company has a P/E ratio of 16.9, below the average metals & mining industry P/E ratio of 17.5 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Richmont Mines as a

buy

. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full

Richmont Mines Ratings Report

.

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