NEW YORK ( TheStreet) -- Allied Nevada Gold (AMEX: ANV) hit a new 52-week high Tuesday as it traded at $31.81 compared with its previous 52-Week high of $30.74. Allied Nevada is changing hands at $31.44 with 86,951 shares traded as of 9:35 a.m. ET. Average volume has been 677,900 shares over the past 30 days. Allied Nevada has a market cap of $2.7 billion and is part of the basic materials sector and metals & mining industry. Shares are up 15.3% year to date as of the close of trading on Monday. 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 49.2, above the average metals & mining industry P/E ratio of 48.4 and above the S&P 500 P/E ratio of 21.8. 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 good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and premium valuation. You can view the full Allied Nevada Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.