We study the bottom $\Lambda_b(6146)^0$ baryon, newly discovered by the LHCb Collaboration. By adopting an interpolating current of $(L_{\rho}, L_{\lambda})=(0,2)$ type and $D$-wave nature with spin-parity quantum numbers $J^P=\frac{3}{2}^+$ for this heavy bottom baryon, we calculate its mass and residue. The obtained mass, $m_{\Lambda_b}=(6144\pm 68)$~MeV is in accord nicely with the experimental data. The obtained value of the residue of this state can be served as a main input in the investigation of various decays of this state. We calculate the spectroscopic parameters of the $c$-partner of this state, namely $\Lambda_c(2860)^+$, as well and compare the obtained results with the existing theoretical predictions as well as experimental data. The results indicate that the state $\Lambda_b(6146)^0$ and its charmed-partner $\Lambda_c(2860)^+$ can be considered as $1D$-wave baryons with $J^P=\frac{3}{2}^+$.
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