In this paper, the Landau–Lifshitz–Baryakhtar (LLBar) equation for magnetization dynamics in ferrimagnets is considered. We prove global existence of a periodic solutions as well as local existence and uniqueness of regular solutions. We also study the relationships between the Landau–Lifshitz–Baryakhtar equation and both Landau–Lifshitz–Bloch and harmonic map equations.