apt can only handle 40 keys in /etc/apt/trusted.gpg.d . 41 keys and you will get the GPG error "no public key found" even if you go through all the steps to add the missing key(s).
Check to see if there are any unused keys in this file from ppa(s) you no longer use. If all are in use, consider removing some ppa(s) along with the corresponding keyfiles in /etc/apt/trusted.gpg.d
sudo apt-key adv
Is considered a security risk and is not recommended as you are "undermining the whole security concept as this is not a secure way of recieving keys for various reasons (like: hkp is a plaintext protocol, short and even long keyids can be forged, …)". http://ubuntuforums.org/showthread.php?t=2195579
I believe the correct way to add missing keys (for example 1ABC2D34EF56GH78) is
gpg --keyserver hkp://keyserver.ubuntu.com:80 --recv 1ABC2D34EF56GH78
gpg --export --armor 1ABC2D34EF56GH78 | sudo apt-key add -