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NEW YORK ( TheStreet) -- Richmont Mines (AMEX: RIC) hit a new 52-week high Tuesday as it is currently trading at $10.30, above its previous 52-week high of $10.16 with 389,925 shares traded as of 11:10 a.m. ET. Average volume has been 385,100 shares over the past 30 days. Richmont Mines has a market cap of $310.8 million and is part of the basic materials sector and metals & mining industry. Shares are up 85.1% year to date as of the close of trading on Monday. 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 14.2, below the average metals & mining industry P/E ratio of 14.7 and below the S&P 500 P/E ratio of 17.7.