Shares of Evolution Mining (ASX:EVN) dropped as much as 4.3% to A$3.38, their lowest value since July 28.

The company’s stock is set for a potential fifth consecutive day of losses if the current trend holds.

The gold mining company reported a substantial 49% decrease in its net profit for the year, falling to A$163.5 million from A$323.3 million.

This was primarily caused by unwanted weather conditions disrupting operations at its Ernest Henry mine in Queensland.

Although the miner’s net profit saw a decline, Evolution Mining (ASX:EVN) did manage an 8% increase in its annual revenue, which rose to A$2.23 billion.

Moreover, the company announced a final dividend of 2 Australian cents per share.

Despite the recent drop, the company’s stock remains up approximately 18.5% for the year, as calculated from the last closing value.

Evolution Mining (ASX:EVN) is a gold mining company with operations primarily in the Ernest Henry mine in Queensland.