Caterpillar (CAT) Surpasses 393% Gains as Mining & Infrastructure Demand Fuels Surge

Caterpillar (CAT) extended a bull run to February 2026, closing at $572.87, up 85% from $309.27 in April 2025. From its March 2020 low of $116.04, the stock is up 393%, adding another 28% by early February 2026. The pattern mirrors metals like gold and silver, reflecting strong mining equipment demand and infrastructure spending, creating backlogs and boosting the energy department’s diesel and natural gas generators. The rally continued through December 2025, with CAT adding to a streak of annual gains since 2018. Duration remains uncertain, with a key principle: trends persist until an external force acts.