NEW YORK ( TheStreet) -- Allied Nevada Gold (AMEX: ANV) hit a new 52-week high Friday as it is currently trading at $43.53, above its previous 52-week high of $43.49 with 471,769 shares traded as of 12:29 p.m. ET. Average volume has been 1.1 million shares over the past 30 days.

Allied Nevada has a market cap of $3.7 billion and is part of the basic materials sector and metals & mining industry. Shares are up 57.5% year to date as of the close of trading on Thursday.

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 296.6, above the average metals & mining industry P/E ratio of 276.9 and above the S&P 500 P/E ratio of 17.7.
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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 largely solid financial position with reasonable debt levels by most measures, solid stock price performance and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and premium valuation. You can view the full Allied Nevada Ratings Report.

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