Unfortunately for its long-suffering shareholders, the Silver Lake Resources Limited (ASX: SLR) share price tumbled to a 52-week low of 38 cents today.
This brought the gold miner's year-to-date decline to a disappointing 39%.
By comparison, the S&P/ASX All Ords Gold (Index: ^AXGD) (ASX: XGD) has climbed 6.5% since the turn of the year.
Why are its shares at a 52-week low?
Investors appear to have been very disappointed with Silver Lake's subdued performance in FY 2017 and its inability to capitalise on a rising gold price.
Despite the gold price rising significantly, Silver Lake posted a net profit of just $2 million from revenue of $227.5 million.
This means the miner operates on a net profit margin of less than 1%, which is significantly lower than the majority of its peers.
For example, Newcrest Mining Limited (ASX: NCM) currently boasts a net profit margin of 8.8% and Northern Star Resources Ltd (ASX: NST) saw its net profit margin increase to 21% in FY 2017.
