SCHEDULE 13G/A: GMT Capital and Thomas Claugus Maintain Significant 8.35% Stake in Hudbay Minerals
Beneficial Ownership Report
GMT Capital Corp. and its control person, Thomas E. Claugus, have reported a continued beneficial ownership of 8.35% in Hudbay Minerals Inc., holding 32,963,120 shares as of March 31, 2025.
Summary
- GMT Capital Corp. and Thomas E. Claugus collectively beneficially own 32,963,120 shares of Hudbay Minerals Inc. Common Stock.
- This ownership represents 8.35% of Hudbay Minerals Inc.'s outstanding common stock.
- The percentage is calculated based on 394,999,072 shares of common stock outstanding as of March 25, 2025, as reported by Hudbay Minerals Inc. on SEDAR+.
- GMT Capital Corp. is a Georgia corporation, and Thomas E. Claugus is a U.S. citizen and the control person of GMT Capital.
- The shares are held through various managed funds and accounts, including Bay Resource Partners, L.P., Bay II Resource Partners, L.P., and Bay Resource Partners Offshore Master Fund, L.P.
- Both reporting persons share voting and dispositive power over the 32,963,120 shares.
- The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Hudbay Minerals Inc.
Sentiment
Score: 5
Explanation: The document is a factual report of beneficial ownership, indicating a neutral sentiment. It confirms a significant, stable institutional holding without providing operational or financial performance details.
Future Outlook
This filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding Hudbay Minerals Inc.'s operations or financial performance.
Industry Context
This Schedule 13G filing indicates a continued significant institutional investment in Hudbay Minerals Inc., a company operating in the mining sector. Such filings provide transparency on major shareholder positions, which can be a factor in market perception, but do not directly reflect broader industry trends or competitive dynamics.
Stakeholder Impact
- Shareholders: The continued significant stake held by GMT Capital and Thomas E. Claugus may be viewed as a sign of confidence by a major institutional investor, potentially reassuring other shareholders.
Key Dates
| Date | Description |
|---|---|
| 2024-02-12 | Date of previous Schedule 13G filing by GMT Capital Corp. for Hudbay Minerals Inc., where the power of attorney for Thomas E. Claugus was filed. |
| 2025-03-25 | Date as of which 394,999,072 shares of Hudbay Minerals Inc. Common Stock were reported outstanding. |
| 2025-03-27 | Date Hudbay Minerals Inc.'s Report on the Annual Information Form was filed on SEDAR+. |
| 2025-03-31 | Date of event which requires filing of this Schedule 13G Amendment No. 10. |
| 2025-05-15 | Date of signing and filing of this Schedule 13G Amendment No. 10. |
Keywords
Hudbay Minerals Inc., GMT Capital Corp., Thomas E. Claugus, Beneficial Ownership, Schedule 13G, Common Stock, Mining, Investment Adviser, Institutional Ownership
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