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NEW YORK ( TheStreet) -- Magnum Hunter Resources (NYSE: MHR) hit a new 52-week low Tuesday as it is currently trading at $2.61, below its previous 52-week low of $2.72 with 2.6 million shares traded as of 10:56 a.m. ET. Average volume has been 3.2 million shares over the past 30 days. Magnum Hunter has a market cap of $418.2 million and is part of the basic materials sector and energy industry. Shares are down 62.2% year to date as of the close of trading on Monday. Magnum Hunter Resources Corporation, an independent oil and gas company, engages in the acquisition, development, and production of oil and natural gas primarily in West Virginia, North Dakota, Texas, and Louisiana.