Shares of Nutrien Ltd. (NTR) plummeted 5.07% during intraday trading on Thursday, as investors reacted to the company's disappointing first-quarter financial results and subsequent analyst actions. The fertilizer giant's stock faced significant pressure after reporting lower Q1 adjusted earnings and sales compared to the previous year.

The earnings report, released a day prior to the stock's decline, appears to be the primary catalyst for the selloff. Investors expressed concern over Nutrien's financial performance, which fell short of expectations in a challenging market environment for agricultural inputs.

Adding to the downward pressure, several analysts adjusted their outlook on Nutrien following the earnings release. UBS maintained a Neutral rating but raised its price target to $56 from $52, while Mizuho increased its target price to $59 from $55. Barclays also weighed in, maintaining a Hold rating with a price target of $59. These mixed signals from analysts, combined with the weaker-than-expected earnings, likely contributed to the stock's sharp decline as investors reassessed Nutrien's near-term prospects.