It’s human nature to leave certain things to the last minute. The same applies to investing, with many Stocks and Shares ISA investors waiting until the 11th hour to add to their portfolios.
Here are two cheap UK shares I think are worth considering before the £20k annual ISA allowance resets on 6 April. I think it’s a matter of time before the market drives their share prices higher.
Silver surfer
Some disappointing operational news has hammered Hochschild Mining‘s (LSE:HOC) share price in early 2025.
Rising costs are an issue for Argentina’s miners as inflation rockets again. In January, Hochschild predicted a rise of 5-10% in all-in sustaining costs for 2024, above forecast, and suggested further cost pressures ahead.
However, I believe the scale of the sell-off could be unjustified (it’s down 14% since 1 January). At 109.6p, the precious metals miner trades on a bargain-basement price-to-earnings (P/E) ratio of just 5.9 times for 2025.
Its forward price-to-earnings growth (PEG) ratio, at 0.1, is also below the value watermark of 1. This cheapness is especially surprising given the overall robustness of Hochschild’s earnings picture.
Production remains strong at the FTSE 250 firm, with forecast-beating output at its Immaculada asset and maiden output at its Mara Rosa mine resulting in a robust final quarter in 2024.
On top of this, gold and silver prices are buoyant, and are widely tipped continue soaring as worries over trade tariffs and broader geopolitical turbulence grow.
Safe-haven gold hit new peaks around $2,945 per ounce this week, and is up 11% since New Year’s Day.
Fears over its cost base remain high. So signs of further pressure — for instance, if Argentina’s inflation rate worsens — could pull Hochschild’s share price lower again.
But, on balance, I think the silver giant is a top bargain to think about at today’s prices.
Dividend darling
While Hochschild has suffered in early 2025, Warehouse REIT (LSE:SHED) has had no such problems. Its shares have risen 4.3% in value since January 1.
Ye, on paper, the property giant still looks dirt cheap to me. At 82p per share, the real estate investment trust (REIT) trades at a 37.9% discount to its estimated net asset value (NAV) per share.
Its forward PEG ratio is 0.7. It also offers great value from an income perspective with its prospective dividend yield sitting at an impressive 7.8%.
This, in part, reflects rules that state REITs must pay at least 90% of annual rental earnings out in the form of dividends.
Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice.
Warehouse REIT’s one of many property stocks that have jumped in 2025. They’ve risen on signs from the Bank of England that interest rates could fall steadily, boosting firms’ NAVs and reducing their borrowing costs.
Yet what goes up sharply can also fall if market sentiment changes. Prices here could dip if the interest rate outlook changes (for instance, if inflationary markers tick up again).
I believe though, that this scenario’s already baked into Warehouse REIT’s rock-bottom valuation. For ISA investors, I think it’s a great last-minute buy to consider alongside Hochschild.
This post was originally published on Motley Fool
