March 27 (Reuters) - Hudbay Minerals Inc HBM.TO :
* GMT CAPITAL CORP REPORTS 11.8 PERCENT SHARE STAKE IN HUDBAY MINERALS INC AS OF MARCH 22 - SEC FILING
* GMT CAPITAL CORP SAYS PURCHASED HUDBAY MINERALS SHARES BASED ON BELIEF THAT SHARES, AT THE TIME OF PURCHASE, WERE "UNDERVALUED"