Magnetite is an unusual stone in this context. It should not be mixed with Hematite. Although looks similar to each other. Magnetite contains a lot of iron and is a heavy stone.

Magnetite balances the intellect and inner emotions and stabilizes them. This is a perfect stone for balancing male and female energies, left and right brain half. It adjusts your chakras and bases you on the energy of the earth.
Helps you develop; Telepathy, meditation and your visual ability, strengthen you and your intuition. Attracting love, commitment and loyalty.

Protects you from negativity. Good for getting started again after a period of illness.
Physical: Is said to be good for asthma, blood circulation, skin, and hair. Muscle cramps, and nosebleeds.