A new hexagonal ferrite with a chemical formula CaCu2Fe16O27 has been synthesized by standard ceramic technique. The compound is monophasic with the expected W type ferrite structure of BaMe2Fe16O27. X ray diffractometry shows that it has the hexagonal W structure with a = 5.846 A and c = 32.916 A. Molar magnetic susceptibility is measured up to 850 K. The compound is ferrimagnetic at room temperature. Electrical conductivity of the sample is measured and results show that it is a semiconductor with E = 0.78 eV. Conduction is explained on hopping of charge carriers A Seebeck study reveals that the sample is a p-type semiconductor.