For December delivery, silver was down 1.06% to $18.84 per ounce on the COMEX this afternoon.
The price of the metal was falling as the dollar was stronger today. Silver is more expensive to foreign investors when the greenback is higher.
Additionally, data today showed quicker-than-expected growth in U.S. consumer inflation last month, which helped increase the case for an interest rate increase, Reuters reports.
Precious metals such as silver and gold are non-interest paying and can have difficulty competing with assets that bear a yield when interest rates are hiked.
Inflation is an important factor the Federal Reserve considers when deciding monetary policy, Reuters noted.
Silver Standard is a Vancouver-based company engaged in the operation, acquisition, exploration and development of precious metal resource properties.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance.
But the team also finds that the company's return on equity has been disappointing.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SSRI