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NEW YORK ( TheStreet) -- Richmont Mines (AMEX: RIC) hit a new 52-week high Thursday as it is currently trading at $11.59, above its previous 52-week high of $11.51 with 48,862 shares traded as of 9:40 a.m. ET. Average volume has been 431,100 shares over the past 30 days. Richmont Mines has a market cap of $358.4 million and is part of the basic materials sector and metals & mining industry. Shares are up 121.7% year to date as of the close of trading on Wednesday. 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 16.4, below the average metals & mining industry P/E ratio of 16.9 and below the S&P 500 P/E ratio of 17.7.