Coprecipitation method can be the best one for synthesizing MgxCu1-xFe2O3. All you need is chosing the molar ratios of the used Mg and Cu cations. The reference given by Nadali is fine. Although I'm not sure that the authors got a mixture of CuFe2O3 and MgFe2O3 or one ferrite with both Mg and Cu in the same time. The given date are not enough to confirm.
I had mentioned that if you use the given Ref. You might get mixture of two ferrites. If I were you, I would try combustion method but using metal nitrates instead of chlorides.It is not hard to do, just mix the three salts of the metals and heat the mix on a hot plate in a crusible. Do the reaction with some care because it will ignite during heating.