Why Technology One, Megaport and Mineral Resources shares are turning heads on Tuesday

Megaport, Technology One, and Mineral Resources shares are making waves today.

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Technology One Ltd (ASX: TNE), Megaport Ltd (ASX: MP1), and Mineral Resources Ltd (ASX: MIN) shares are grabbing headlines today.

Two of the ASX heavyweights are outperforming the 1% gains posted by the S&P/ASX 200 Index (ASX: XJO) as we head into the Tuesday lunch hour, while one is taking a tumble.

Here's what's grabbing investor interest.

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Image source: Getty Images

Mineral Resources shares gain on Bald Hill restart

Mineral Resources shares are up 1.9% at the time of writing, changing hands for $65.30 apiece.

This comes after the ASX 200 lithium miner and diversified resources producer announced it will restart operations at its Bald Hill lithium mine, located in Western Australia.

The decision to recommence operation at Bald Hill – which was placed in care and maintenance in November 2024 amid crashing lithium prices at the time – follows this year's strong run higher in global lithium prices.

Commenting on the decision, Mineral Resources managing director Chris Ellison said:

With strong and sustained demand for spodumene concentrate driving a significant recovery in prices, the time is right to restart operations at Bald Hill…

Once production resumes at Bald Hill, MinRes will be the only company globally operating three hard rock lithium mines, each with their own spodumene concentrate facilities.

Mineral Resources shares have now surged 168% over 12 months.

Megaport shares get a board shakeup

Megaport shares are also making headlines today after the ASX 200 automated infrastructure platform provider reported the appointment of Jon Gidney as a non-executive director of the board, commencing on 29 May.

Gidney will succeed Grant Dempsey as chair of the Audit & Risk Committee.

Gidney currently serves as a non-executive director of Dexus (ASX: DXS) and Cettire Ltd (ASX: CTT).

"As we continue to execute our global growth strategy, Jon's deep expertise in global capital markets, strategy, and corporate finance will be invaluable," Megaport chair Melinda Snowden said.

Megaport shares are up 1.6% at the time of writing, trading for $13.08 each. Megaport shares have leapt 53% over the past month.

Which brings us to…

Technology One shares slip despite H1 profit growth

Joining Megaport and Mineral Resources shares in turning heads today, Technology One shares are down 2.6%, swapping hands for $27.89 each.

This retrace comes despite the ASX 200 software-as-a-service (SaaS) provider reporting some solid growth metrics for its first-half (H1 FY 2026) results.

Among the highlights for the six months to 31 March, Technology One reported a 17% year-on-year increase in annual recurring revenue (ARR) to $598 million.

And on the bottom line, profit after tax of $66.8 million was up 6%.

This led to management boosting the interim dividend by 21% to 8 cents per share, representing a new all-time high interim payout.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport and Technology One. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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