Technically, yes. If A) you did not kill the mob last, it doesn't matter if B) you have waited an hour for that mob to respawn, and C) someone else shows up one minute before: by the server rules you both have equal claim, so whoever engages the mob first gets it.
Now in practice, if I show up somewhere and see a person sitting there waiting for the mob to spawn, and I don't know who killed the mob last, I personally (and likely many players also) am likely to assume that the person who looks like they are camping the mob, actually is (and killed it last). But if I really wanted that camp, I might ask the person if I have a chance at it.
P.S. IMPORTANT CAVEAT: I'm just one player offering an opinion/interpretation of the official rules: the Play Nice Policies. But whatever any players say (in the forum or in the wiki), the staff can ignore them; they only have to follow the PNP by their intepretation.
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