In an aspect, a Co2Z-type ferrite comprises oxides of at least Me, Co, Mo, Li, and Fe; wherein Me is at least one of Ba or Sr. In another aspect, the Co2Z-type ferrite comprises a Z-type hexaferrite an amount of lithium molybdate. In another aspect, the Co2Z-type ferrite has a formula Li2MoO4.BaxSr3-xCo2+y−zMe′yMe″zFe24-2y-mO41, wherein Me′ is at least one of Ti, Mo, Ru, Ir, Zr, or Sn; Me″ is at least one of Zn, Mn, or Mg; x is 0 to 3; y is 0 to 1.8; z is 0 to 1.8; and m is −4 to 4. In yet another aspect, a method of making a Co2Z-type ferrite comprises milling an initial Co2Z-type ferrite and Li2MoO4 to form a mixed ferrite; and calcining the mixed ferrite to form the Co2Z-type ferrite.