Stocks of the Hour: Mineral Resources, TechnologyOne & FINEOS

Mineral Resources (ASX:MIN) acquired a 40 per cent interest in the Red Hill iron ore joint venture, located in Western Australia. The mining company aims to expand its resource inventory around the company’s Ashburton Hub, to underpin a sustainable iron ore export business. Shares in Mineral Resources (ASX:MIN) are trading 2.1 per cent higher at $54.38.

TechnologyOne (ASX:TNE) has entered an agreement regarding the acquisition of the UK education service Scientia Resource Management for a cash consideration of $22.4 million. The acquisition aims to deliver quality, higher education learning and accelerate the company’s position in the UK market. Shares in TechnologyOne (ASX:TNE) are trading 3.8 per cent higher at $10.52.  

FINEOS (ASX:FCL) successfully raised $70 million through an institutional placement, an upsize of $10 million following support from security holders. The insurance software said the funds will be used to support its opportunity pipeline. Shares in FINEOS Corporation (ASX:FCL) are trading 1.6 per cent higher at $4.60.

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