Based on first-principles total-energy calculations, we systematically investigate how the electronic and magnetic properties of rhombohedral graphite thin films depend on the interlayer spacing and number of layers. Our calculations show that the magnetic ordering of the thin films depends on the interlayer spacing. Thin films under compression normal to the layers possess finite magnetic moments, indicating parallel spin coupling between the two surfaces. We also find that thin graphite films with seven or more atomic layers exhibit magnetic ordering while films with six or less atomic layers are metallic with no magnetic ordering.