Magneto-gravity-precessional instability, which results from the excitation of resonant magneto-inertia-gravity (MIG) waves by a background shear generic to precessional flows, is addressed here. Two simple background precession flows, that of Kerswell (1993 Geophys. Astrophys. Fluid Dyn. vol 72, no. 1–4, pp. 107–144), and that of Mahalov (1993 Phys. Fluids A: Fluid Dyn. vol. 5, no. 4, pp. 891–900), are considered. We analytically perform an asymptotic analysis to order
${ O}(\varepsilon ),$ where
$\varepsilon$ denotes the Poincaré number, i.e. the precession parameter, and determine the maximum growth rate of the destabilizing subharmonic resonances of MIG waves: that between two fast modes, that between two slow modes and that between a fast mode and a slow mode (mixed modes). The domains of the
$(K_0 B_0/\varOmega _0, N/\varOmega _0)\hbox{-}$plane for which this instability operates are identified, where
$1/K_0$ denotes a characteristic length scale,
$B_0$ is the unperturbed Alfvén velocity,
$\varOmega _0$ is the rotation rate and
$N$ denotes the Brunt–Väisälä frequency. We demonstrate that the
$N\rightarrow 0$ limit is, in fact, singular (discontinuous). At large
$K_0B_0/\varOmega _0,$ stable stratification acts to suppress the destabilizing resonance between two fast modes as well as that between two slow modes, whereas it revives the destabilizing resonance between a fast mode and a slow mode provided
$N\lt \varOmega _0,$ because, without stratification, the maximal growth rate of this instability approaches zero as
$K_0B_0/\varOmega _0\rightarrow +\infty .$ This would be relevant for the generation of the mean electromotive force, and hence, the
$\alpha \hbox{-}$effect in helical magnetized precessional flows under weak stable stratification. Diffusive effects on the instability is considered in the simple case where the magnetic and thermal Prandtl numbers are both equal to one.