It sounds like it.

Put a little brake grease on the contact points where the shoes touch the splash shield. There is probably a bare spot or two back there causing the squeak. It doesn't take much.

I also like to grease the points where the slave cylinder pushes the shoes, the bottom point that the shoes push against when the brakes are applied and where the adjuster contacts the shoes just to make sure.

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Sgtsandman's Work in Progress
2011 Ranger XLT, 4X4, 4 door Super Cab. 4.0L, 5 Speed M50D-R1HD, 3.73:1, 8.8" open differential, Jason Pace cap
2019 Ford Ranger STX FX4, Super Crew, 2.3L Ecoboost, 10 speed automatic, 3.73:1 with rear locker, Leer 100XR cap