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NEW YORK ( TheStreet) -- Globe Specialty Metals (Nasdaq: GSM) hit a new 52-week low Thursday as it is currently trading at $12.34, below its previous 52-week low of $12.44 with one million shares traded as of 10:45 a.m. ET. Average volume has been 716,600 shares over the past 30 days. Globe Specialty has a market cap of $1.03 billion and is part of the basic materials sector and metals & mining industry. Shares are up 3.4% year to date as of the close of trading on Wednesday. Globe Specialty Metals, Inc., together with its subsidiaries, produces and sells silicon metal and silicon-based alloys in North America, Europe, South America, and Asia. The company primarily offers silicon metal that is used as a raw material for silicone compounds, aluminum, and polysilicon. The company has a P/E ratio of 15.3, above the average metals & mining industry P/E ratio of 14.9 and below the S&P 500 P/E ratio of 17.7.