No, she most likely own her Mechanical rights(lyrics and songs) but not the master copyright(the entire song. From the beat, vocals, composition, melody, etc. The entire original final song.)
Which means since she has her mechanical rights, she could just take those lyrics and redo them because she owns em and put them over old beats( with slight variations on them, and not from the original producers. Which makes it a new song essentially) and still sell it and make profit.