After slumping up to 13%, are these cheap UK shares set to rebound?

These UK shares have fallen by double-digit percentages over the last month. Royston Wild explains why they now sit in bargain-basement territory.

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Savvy investors can significantly boost their returns from UK shares at times like these. When stock markets are volatile, companies with incredible long-term potential often fall alongside more vulnerable ones. Picking these up at today’s dirt-cheap prices can deliver mammoth returns over time.

I’ve been searching for UK bargain stocks myself, and three have recently caught my eye: Serabi Gold (LSE:SRB), Crest Nicholson (LSE:CRST), and NCC Group (LSE:NCC).

Serabi Gold

Gold stocks like Serabi Gold have come under pressure as bullion prices have retraced. This particular one’s down 13% over the last month, as a resurgent US dollar has hit gold demand by making it more expensive to buy and hold.

Yet underlying demand for the shiny safe haven remains strong. World Gold Council data shows global holdings in gold-backed exchange-traded funds (ETFs) rose by 61 tonnes in Q1. I’m not surprised.

Gold is traditionally in high demand when inflation rises and geopolitical crises emerge, and so could continue recovering in price. I also expect central bank gold demand to keep rising as institutions diversify away from the dollar.

Investing in mining stocks can be risky given the operational challenges they encounter. But on balance, I think there’s scope for Serabi shares to rebound, helped by its rock-bottom valuation. At 300p, its price-to-earnings (P/E) ratio for 2026 is just 6.1 times.

Crest Nicholson

Those gold-boosting inflationary pressures threaten to have an opposite effect for Crest Nicholson. Housebuilders like this are highly sensitive to interest rates and their impact on buyer affordability.

Accordingly, Crest’s shares have dropped 12% over the last month. But I think this represents an attractive dip buying opportunity to consider. At 110.6p per share, the builder’s P/E-to-growth (PEG) multiple is 0.1 for this financial year (to October 2026).

That’s miles below the value watermark of one. And it remains ultra-low for the following two fiscal years, at 0.3.

I’m confident Crest Nicholson shares could recover steadily over time, driven by rising demand for newbuild properties as the UK population expands. Government plans for 300,000 new homes a year provides an enormous earnings opportunity.

NCC

Tech spending by companies can slump when economic conditions worsen. But have fears over NCC’s future profits been overblown? I think perhaps so — the cybersecurity company’s dropped 11% in value over the last month.

With cyber attacks becoming more numerous and advanced, having software that protects against such threats isn’t a luxury. It’s a necessity. According to UK Finance, “52% of global organisations report that their average ransomware payout now exceeds their annual cybersecurity budget“.

These figures also suggest enormous growth potential I don’t think is reflected in NCC’s valuation. For the financial year to September, the P/E is just 7.8. The business provides cybersecurity and software assurance services, and is switching to longer-term contracts with recurring revenues to better capitalise on a market that’s booming as companies increasingly digitalise their operations.

Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. 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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