Magnetoresistive (MR) elements having pinning layers formed from a permanent magnetic material are disclosed. An MR element of the invention includes a first pinning layer, a first pinned layer, a first spacer/barrier layer, a free layer, a second spacer/barrier layer, a second pinned layer, and a second pinning layer. One of the first pinning layer or the second pinning layer is formed from a permanent magnetic material, such as CoPt or CoPtCr. The other of the first pinning layer or the second pinning layer is formed from an antiferromagnetic (AFM) material, such as IrMn or PtMn.