A magnetic compound represented by the formula (R1(1-x)R2x)a(Fe(1-y)Coy)bTcMd wherein R1 is one or more elements selected from the group consisting of Sm, Pm, Er, Tm and Yb, R2 is one or more elements selected from the group consisting of Zr, La, Ce, Pr, Nd, Eu, Gd, Tb, Dy, Ho and Lu, T is one or more elements selected from the group consisting of Ti, V, Mo, Si and W, M is one or more elements selected from the group consisting of unavoidable impurity elements, Al, Cr, Cu, Ga, Ag and Au, 0≤x≤0.7, 0≤y≤0.7, 4≤a≤20, b=100-a-c-d, 0