NEW YORK ( TheStreet) -- Globe Specialty Metals (Nasdaq: GSM) hit a new 52-week high Tuesday as it traded at $24.23 compared with its previous 52-Week high of $23.64. Globe Specialty is changing hands at $24 with 214,538 shares traded as of 9:32 a.m. ET. Average volume has been 626,600 shares over the past 30 days. Globe Specialty has a market cap of $1.7 billion and is part of the basic materials sector and metals & mining industry. Shares are up 36.3% year to date as of the close of trading on Monday. Globe Specialty Metals, Inc., together with its subsidiaries, produces silicon metal and silicon-based alloys. The company offers chemical and metallurgical grade silicon metal, which is used as a raw material in making silicone compounds, aluminum, and polysilicon. The company has a P/E ratio of 83, above the average metals & mining industry P/E ratio of 80 and above the S&P 500 P/E ratio of 21.8. TheStreet Ratings rates Globe Specialty 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 notable return on equity. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and poor profit margins. You can view the full Globe Specialty Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.