Looks like at least one hedge fund still likes the stock or thinks the buyout may still be on...

Jaguar Mining Inc. (JAG) is a Canadian company engaged in the exploration, development and extraction of gold in Minas Gerais, Brazil. BI Partners added $6 million in Q3 to its $24 million prior quarter position in the company, and held 4.9 million shares at the end of Q3. Furthermore, as we covered earlier in our daily and weekly coverage of insider and institutional trades, BI Partners filed SEC Form SC 13G last Wednesday, December 14, indicating that it had added another 2.2 million shares since the end of Q3 and now hold 7.1 million or 8.5% of the outstanding shares in the company. This makes it the second largest institutional holder of JAG shares, behind Capital Research Global Investors, which holds 8.4 million or 9.9% of the outstanding shares.

JAG trades at 10-11 forward P/E and 1.9 P/B compared to averages of 12.0 and 3.6 respectively for its peers in the gold mining stocks index, while earnings are projected to more than double from 26c in 2011 to 54c in 2012. Also, JAG stock has outperformed the index as since the peak in April, JAG is about flat compared to the 21% drop in the index.