Certainly, but extending it to 'mother of God' may or may not be stretching the truth. It is just semantics, but I see no reason to have to stretch what is said in the Bible.
trying to diminish the salutation of Elizabeth is, in my opinion, stretching it quite a bit.
Jesus called Mary “mother.” Elizabeth called her “mother”.
There is no example in scripture of anyone nitpicking about her being Mother of physical vs. divine nature.
Again...trying to separate Christ’s divine/human nature like that slides into nestorianism.