2 FTSE 100 shares and 1 penny stock I’d buy right now

I’m looking for the best cheap UK stocks money can buy. Here are some FTSE 100 shares and penny stocks I’m thinking of snapping up.

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I’m on the hunt for the best cheap UK shares to buy today. Here are two brilliantly-priced FTSE 100 stocks and a penny stock on my radar.

Getting connected

I think FTSE 100 company Vodafone Group (LSE: VOD) offers the sort of all-round value that’s difficult to ignore. Not only does a forward price-to-earnings growth (PEG) ratio of 0.5 provide plenty of bang for one’s buck, but the telecoms titan sports a gigantic 6.4% dividend yield for this year too.

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In an increasingly-digitalised world, shares that help keep us connected and going about our daily business have a wealth of opportunities. A recent Adobe report showed that half of all e-commerce revenues are generated with smartphones, while the rise of flexible working is driving mobile data demand too.

Clearly, the opportunities for Vodafone are huge. The highly-regulated trading environment poses a continued threat for companies like this. But I still think the enormous profits potential for the Footsie share is not properly reflected at current prices.

macro shot of computer monitor with FTSE 100 stock market data in trading application

Riding the green theme

Penny stocks like Sylvania Platinum (LSE: SLP) are disliked by many investors. These cheap UK shares can be prone to extreme price volatility as they’re often bought and sold in huge batches. Many low-cost shares like these can also be cash poor and struggle to raise finance for future growth.

However, I think Sylvania Platinum’s a cheap UK share that could provide excellent returns over the long haul. Demand for its emissions-cleaning product rise as legislation around car emissions tightens, like in the US.

And this penny stock also trades on a price-to-earnings (P/E) ratio of just three times. Oh, and at current prices, the mining giant carries a hefty 6.3% dividend yield as well.

Another FTSE 100 bargain

Antofagasta’s (LSE: ANTO) another UK share well-placed to ride the growing raft of green legislation. This is because soaring demand for electric vehicles (and related infrastructure), and renewable energy technology, looks set to turbocharge demand for copper.

Electric vehicles contain up to three-and-a-half-times more copper than internal combustion engine vehicles, analysts at Wood Mackenzie point out. And the excellent conductivity and ability to handle high temperatures mean there are no viable alternatives to the red metal.

This all illustrates the bright revenues outlook for the FTSE 100 share and its copper-digging peers.

Of course mining shares like this can be risky. Exploration, development and production problems can be common in this industry. Back in March Antofagasta just managed to head off strike action at Los Pelambres, the biggest copper mine in Chile.

But, in my opinion, these threats are more than reflected at the firm’s current share price. Today, this cheap UK share trades on a rock-bottom PEG ratio of 0.1 for 2021.

Like Vodafone and Sylvania Platinum, I think this could be a great value stock for me to buy right now.

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Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Adobe Inc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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