Locally owned Yaragua Tours (inside Hotel Yaragua, tel. 651-4147, www.yaragua.com [1]), under the same ownership of its namesake hotel, offers a variety of active tours, including caving, visits to hot springs, horseback riding, river tubing, waterfall hikes, and coffee farm visits at prices ranging $15–45 per person with a two-person minimum.
Another option is Basecamp Outdoor Adventures (651-4695, www.basecamphonduras.com [2]), which is under the same management as the Via Via across the street and offers a variety of alternative recreational options, including 2–6-hour hikes in and around the hills surrounding Copán Ruinas [3], motorcycle riding, and three- or five-hour horseback rides. It also runs daily shuttle buses to Antigua [4] ($12) and Río Dulce [5] ($20) with a 40-minute stop in Quiriguá [6] along the way to the latter.
Links:
[1] http://www.yaragua.com
[2] http://www.basecamphonduras.com
[3] http://www.moon.com/destinations/guatemala/el-oriente-and-izabal/copan-ruinas
[4] http://www.moon.com/destinations/guatemala/antigua
[5] http://www.moon.com/destinations/guatemala/el-oriente-and-izabal/rio-dulce
[6] http://www.moon.com/destinations/guatemala/el-oriente-and-izabal/quirigua-puerto-barrios/quirigua